H.R. 3466: SMART Act

SMART Act

This bill modifies the RAISE Act (116th Congress) to substantially alter the immigration system-

• Reduces Immigration:
  • Ends the visa lottery (-55,000 per year);
  • Sets the annual level of refugees at 50,000; and
  • Ends chain migration, lowers the definition of a child to under 18, and moves parents from the uncapped immediate relative category into a renewable "W Visa," without work authorization; (-274,000, based on average parent entries over the previous 10-year period).
• Expands Immigration:
  • Increases EB Visas: Creates a new, points-based immigration system for employment-based immigrants, bumping the cap from 140,000 a year to between 173,00 and 213,000 a year based on demand;
    • The cap starts at 193,000, but can increase or decrease by 20,000.
    • Applicants must receive at least 30 points, based on:
      • Age: Maximum points (10) are awarded to those aged 26-30.
      • Education: Points are awarded for the highest degree obtained, with more points given for U.S. degrees and degrees in STEM fields.
      • English Proficiency: Points are awarded based on an applicant's score on a standardized English language test, such as the TOEFL or IELTS.
      • Job Offer: Applicants with a high-paying job offer (at least 150% of the state's median household income) can receive additional points.
      • Investment: An applicant can earn points by investing $1.35 million or $1.8 million in a new U.S. commercial enterprise and actively managing it.
      • Extraordinary Achievement: Nobel laureates or those with comparable recognition receive 25 points.
  • Increases H-1Bs: Prioritizes H-1Bs based on wage level, but increases the cap from 85,000 to a cap that can range from 115,000-195,000 based on demand (as the program is not significantly altered, the assumption is the cap will reach 195,000 quickly);
  • Creates a Gold-Card Visa Program: 25,000 new visas each year for individuals who invest $5 million in a commercial enterprise and create at least 10 full-time jobs, not subject to the worldwide numerical limits.