The problem of course are the untold number of companies who abuse the system to suppress wages, limit career growth and company movement, or all of the above.
Fix the abuse first. Make the minimum salary for these so called exceptional folks 1.5x or 2x prevailing wage. Then loosen the rules.
This isnt getting rid of the cap on h1b's. It's getting rid of the stupid dance where you pretend to find an american before you bring the talent here.
from: https://www.forbes.com/sites/stuartanderson/2024/03/04/emplo...
This will not change the number of h1b's that come into the US every year. Full stop. Same labor pool as before.
If each of those 85k had a wage floor of $300k, I'd feel better about the entire program, and less like it was a price fixing method. And at that point I'd advocate for removing the cap altogether.
In short, allow companies to import as much talent as they desire, as long as we're sure it's not for nefarious reasons.