Schumer’s Second Thoughts (Or: This Is Why Reading Legislation Before Voting Is a Good Idea)

Sen. Schumer has pledged to undo a provision included in the stimulus package that will make it nearly impossible for New York’s banks to hire foreign workers through the H-1B visa program….

According to a report released last year by the Partnership for New York City, roughly 13,000 workers in New York, New Jersey and Connecticut are here on H-1B visas. The top visa sponsors in the area are the very same banks that have received TARP money. Those banks also have significant overseas operations, says Kathy Wylde, and this provision will hurt most when the economy turns around and the banks look to hire talent to tap new markets.

“When they require someone with a language or other skill who they feel is the best person for the job, if they can’t bring them to New York, they will move the function,” says Wylde. “That’s what’s happened in the past when we’ve had a shortage of the H-1B visas.”

Too bad. Schumer outsmartassed himself this time! His karma ran over his dogma.