This one is also a particularly terrible move:
>“ Because those required wage increases take effect this week, existing H-1B holders looking to renew their visas might not qualify unless their employers raise their salaries accordingly.”
Copying from my comment below, this is likely to backfire.
Since remote work has become acceptable and they already know the ins and outs of the job, many of these folks losing their visa will just be allowed to work remotely from India or Canada where it's trivial to get a work visa if you have a job offer.
This means the US economy will lose all the taxes and local expenditure in the economy by the family like rent, food, travel, vacations, utilities, medical expenses, entertainment, cars, home sales, etc. etc. And if that works out, the next hire may just be directly hired in India or Canada itself.
If I were in the Canada govt, I'd immediately create a way around the travel ban for workers who's visas didn't get renewed to be able to move to Canada after following a strict quarantine protocol. If the worker was able to work remotely in the US using Zoom, why can't they do the same job remotely in the same time zone in Canada using the same remote working tools? This might be a once in lifetime opportunity for Canada to grow their tech sector, especially if Trump gets re-elected and puts further restrictions.
There is already a small industry in Canada where a company takes a few % of the billing rate in order to sponsor and hold a Canadian visa for people who lost their H1B visas due to increased and inconsistent rejections over the past few years, but whose employer is willing to allow them to work from Canada. This moves a lot of money to Canada.
Also, some tech companies have been outright moving jobs to Canada because they can hire from a global workforce and Canada has been welcoming them. This is going to intensify.
https://www.npr.org/2020/01/27/799402801/canada-wins-u-s-los...
https://www.usnews.com/news/best-countries/articles/2020-07-...
There is a reason this regulation didn't follow the normal rule-making and public comment period. Very likely this wouldn't have happened if there wasn't an imminent election.