Who can afford the $1,00,000 US dream now?

PRESIDENT Donald Trump's recent executive order has sent shockwaves through the United States' skilled immigrant workforce and the companies that rely on it. On September 19, the administration announced that new H-1B visa applications would now carry a fee of $100,000 — a quantum leap from the modest amounts previously charged.

The White House insists the move will shield American workers from wage suppression and rein in alleged abuse of the H-1B programme. But in practice, the sheer magnitude and sudden implementation of this policy have triggered widespread fear and confusion, particularly among professionals from India and China, who constitute the lion’s share of H-1B recipients.

The order applies only to new visa petitions submitted after September 21. Current H-1B holders, renewals and applicants already selected in this year's lottery are exempt. While these clarifications have somewhat eased anxieties, the initial hours after the announcement resembled a panic drill. Airports reported a surge of travellers rushing back to the US, families cancelled trips, students fretted about career prospects and employers scrambled for legal guidance.

On platforms like X and Reddit, the human cost of the policy became apparent. Posts chronicled cancelled flights, sleepless nights and the uncertainty of family stability. One widely shared post read: "I have a mortgage, two children in school, and an H-1B renewal coming up next year. I don't know if my employer will continue to sponsor me."

The $1,00,000 question of who can afford the American dream now is looming large over so many lives.

The financial implications are, indeed, formidable. Even with employer sponsorship, the six-figure fee could deter companies from taking on new foreign talent. For prospective employees, this translates into fewer opportunities; for students graduating from US universities, the once reliable pathway from study to work is narrowing.

Historically, the H-1B visa has served as a conduit for highly skilled Indian professionals to contribute to the US technology and research sectors. It has underpinned the growth of India's IT industry and generated remittances that support millions of households back home.

For many visa holders, the stakes are deeply personal. Thousands of Indian families in the US depend on timely renewals, with children raised in America and embedded in its schools and communities. Sudden policy changes threaten to uproot these families overnight.

The plight of "documented dreamers" — children of H-1B workers who lose legal status upon turning 21 — exemplifies the emotional toll, now exacerbated by Trump's order.

For young professionals, the uncertainty is particularly crushing. Years of investment in education, competitive exams and student loans hinge on the ability to secure a US job. The visa represents more than employment; it symbolises social mobility, international exposure and professional recognition. A sudden spike in fees risks rendering that preparation futile.

Students are caught in the crossfire as well. Indian parents have long sent their talented wards to US universities, lured by world-class education and a clear path to employment through the H-1B programme. Policy shocks of this magnitude erode the allure of US education, prompting many to consider alternative destinations.

Globally, America risks squandering its magnetic pull for talent with the prohibitive entry fee slapped on H-1B. Canada, Australia and several European nations, including Germany, are already seizing the opportunity.

They are wooing skilled migrants with simplified visa regimes and attractive residency prospects. For young engineers weighing studies today, the US seems less predictable, less welcoming and more costly.

Economists have questioned whether the policy will genuinely protect domestic workers, as it purports to. A Wall Street Journal report suggests that H-1B employees frequently complement US talent rather than replace it, enabling companies to expand and create additional roles. Paradoxically, by slamming the door, Washington could hobble the very innovation it seeks to protect.

The psychological impact is also significant. Visa renewals and lotteries are more than bureaucratic processes; they are recurring stressors that influence family planning, schooling and financial decisions. The American dream, once aspirational, now increasingly fuels anxiety.

Industry groups and observers, including India's Nasscom, have warned of potential legal challenges. The fee is so steep that some have described it as punitive or discriminatory. The lack of clarity surrounding its implementation — whether this fee could become recurring or extend to renewals — compounds the problem, leaving companies and workers alike in limbo.

The policy has also sparked diplomatic tensions. The Indian government has decried the hike as "unreasonable and discriminatory" and flagged it as a key concern in upcoming trade talks with Washington. Officials stress the need to safeguard their skilled workforce while preserving bilateral ties. Economically, India may need to reduce overreliance on a single visa system by diversifying global operations, encouraging IT companies to expand in Europe, Asia and Africa and fostering domestic innovation hubs to retain talent.

Ultimately, this episode underscores a fundamental principle: nations are built not solely on markets or trade deals, but also on the lives, aspirations and well-being of the people who contribute to them. The American dream was never meant to carry a price tag — let alone one prohibitive enough to exclude those who helped build it.

Harvinder Khetal is Deputy Editor, The Tribune.