We're about to lose a lot of foreign STEM workers

The podcast episode, "The Indicator from Planet Money," discusses the H-1B visa program and recent changes introduced by the Trump administration, specifically a new $100,000 fee for new applicants. Co-host Darian Woods shares his personal experience of panic during his honeymoon when his wife, an H-1B visa holder, received a concerning text from her boss about the new policy. Economist Michael Clemens explains that the H-1B program is crucial for attracting high-skilled foreign workers, primarily in STEM fields, and research consistently shows it boosts U.S. productivity, leading to more patents, startups, and overall economic growth. While the program may cause wages for directly competing American workers to grow less, it does not necessarily decrease them. Clemens argues that the program needs reform to address the issue of workers being tied to employers, which can depress wages, but he views the new $100,000 fee as an arbitrary "risk tax" that creates uncertainty and could deter investment, especially as other countries are actively seeking foreign STEM talent.