We're hiring massively (SF East Bay), have a really hard time finding suitable, qualified candidates (from Java backend to native apps on iOS, Android, Windows). And even our junior devs make more than your new floor in base pay, not even counting RSUs.
If I would start filtering out H1B transfers (and other visa types), my hiring pipeline would be empty.
Where are the former Pennsylvanian coal miners pouring into tech? Where are the great US coders willing to move to the CA Bay Area? I don't see them. Indians, Chinese, Russians, Ukranians, yes. 3rd generation mid-westerners? crickets. ( I did move my family, from Europe to the US. )
The US education system does not generate enough coders. It's too bad before college, too expensive in college. Decent to great public school systems in those other countries take up that slack.
You restrict foreigners joining tech and the sector grinds to a halt. The US population on a macro level right now is simply too uneducated to run it.