Charles schumer co sponsored by a bipartisan group of

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: will be levied on each application. If > 50% of employees are on visas, fees will be USD10,000. 27 June, 2013 ** Senate passes the bill 68-32 with no meaningful changes to the visa and outplacement provisions **Bill moves to the House of Representatives for debate and passage but not taken up for debate or voting **House representatives prefer breaking the bill into smaller parts like the Agricultural Guestworkers Act, Border Security Results Act, Legal Workforce Act, SAFE Act and the Skills Visa Act. Current differences in Skills Visa Act are: House of Representatives 1.Wage requirements: It does not impose additional wage requirements on H1B dependent employees approach to the issue 2. Higher visas fees: It increases fees but without additional fees or prohibitions on hiring for high-volume users and key differences 3. Visa caps: Increases the H1B cap to 155,000 plus 40,000 master's grads ** House speaker John Boehner who had so far opposed debating a single comprehensive bill recently signaled some softening in stance ** President Obama has in the meanwhile said that he is open to a piecemeal approach favored by House Republicans but only if Recent moves on the it does not abandon comprehensive goals of the bill passed in the Senate bill and its possible ** Bill may fail completely like the Comprehensive Immigration Reform Act of 2007 if compromise is not reached by the fall of future 2014 when campaigning for midterm Senate elections (elections on November 4, 2014) **Even if the bill is passed, support for the outplacement restriction has waned as India has rolled back two protectionist measures, i.e. preferred market access and transfer pricing, the measures that will help US MNCs in India Source: Press reports, Deutsche Bank Deutsche Bank AG/Hong Kong Page 17 7 January 2014 Software & Services Indian IT Services Changes to key forecasts and assumptions Figure 23: Forecast change ------------FY15E----------New Old Chg (%) ------------FY16E----------New Old Chg (%) Sector Average Revenue USD mn 8,675 8,685 -0.11% 10,267 10,290 -0.22% INR mn 530,983 531,569 -0.11% 616,958 618,310 -0.22% EBITDA 138,287 139,587 -0.93% 158,283 160,026 -1.09% EBIT 99,877 100,645 -0.76% 114,467 116,724 -1.93% Net Income 106,095 107,611 -1.41% 123,071 125,052 -1.58% Inf...
View Full Document

Ask a homework question - tutors are online