Stimulus Plan Provisions for Favoring U.S. Workers Before Hiring H-1B Foreign Workers: Focus on Financial Institutions

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The economic stimulus package that Congress passed and President Obama signed into law on February 17, 2009, imposes U.S. worker recruitment and retention, as well as record keeping obligations, on certain federal funds recipients before hiring H-1B foreign workers.

The American Recovery and Reinvestment Act of 2009 (the "Recovery Act") provides public funding, extended tax incentives, loans and outright grants to businesses to stimulate the economy. Under Section 1611, a provision subtitled the "Employ American Workers Act," employers receiving funding under the federal Troubled Assets Relief Program ("TARP") must try to hire U.S. citizens before recruiting foreign workers under H-1B status. Congress created TARP under a prior law, the Emergency Economic Stabilization Act of 2008, which was the $700 billion bill passed and signed in October 2008.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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