At the same time as the US cuts science funding so Jeff Bezos can be slightly wealthier, Chinese universities are surging in global rankings for research [1].
This is the crux of the issue.
We've allowed extremely short term capitalistic interests of the wealthiest of the wealthiest to dictate our national policy in a great many areas, including taxation, academics, immigration, etc.
I liken the situation to a game of chess - on one hand, you have a team of Grandmasters and a supercomputer taking the time to evaluate each move and understand the positives and negatives of any possible move. On the other hand, you have a pigeon, who is there because someone who has already been the beneficiary of tremendous luck has convinced their side that putting a pigeon on the board is good for everyone involved.