Senate Proposal Limits Foreign Workers at Bailed Out Banks (visas, law, Republican)

[Benicar]

WASHINGTON (AP) — Two senators proposed a law Wednesday that would require banks to hire only Americans for one year after they receive U.S. government bailout money.

An investigation by The Associated Press has showed that banks receiving the most federal aid had requested visas for thousands of foreign workers even as they were laying off employees amid the economic collapse.

The legislation by Sens. Bernie Sanders, an Independent, and Republican Charles Grassley would apply to more than 200 banks that have accepted the government's aid. They would be barred from hiring foreigners who hold special visas reserved for certain skilled and advanced-degree jobs. Both senators are longtime critics of abuses they see in the visa program.

"It is obscene and vulgar for these huge banks getting taxpayer bailouts to use the bailouts to throw American workers on the street and bring in foreign workers," Sanders said.

Senate proposal limits foreign workers at bailed out banks - USATODAY.com