This is very hard to square with software professionals being the fastest growing profession both in terms of number of employed workers and earnings in the past 2 decades.
U.S. wages for software professionals are significantly higher than anywhere else in the world and nowhere else has as much software professionals immigration as the U.S.
I’m predicting that the uncertainty and discouragement of H1-Bs will lead to a destruction of jobs in the U.S. and a suppression of salaries as high quality software engineers don’t move to the U.S., allowing the center of gravity of the industry to shift out of the U.S.
Note: This is not to say there aren’t significant issues with the H1B system that need to be addressed. There are. But cutting off the supply of workers in the most remote friendly profession will not lead to an increase in wages. It will lead to an outflow of jobs instead.