Foursquare co-founders Naveen Selvadurai (left) and Dennis Crowley.
(Credit: Foursquare)New York City and Silicon Alley are becoming bigger players in the tech world, but that could change if they can't get the employees they need--at least according to Senator Chuck Schumer.
The legislator, a Democrat from New York, hopes to increase the number of qualified tech workers by reforming U.S. immigration policy -- something many have attempted in the past.
Schumer plans to introduce a bill Wednesday called the Benefits to Research and American Innovation through Nationality Statutes Act, or BRAINS Act for short. It will start a two-year pilot program to designate 55,000 new green cards each year for foreign-born STEM students graduating with advanced degrees from U.S. schools and will reduce the red tape to obtain a student visa.House STEM bill
"Silicon Valley may have given us the semiconductor, but New York City is the birthplace to the next generation of Internet giants," Schumer said during a presentation Tuesday. "But they won't become giants unless they get the talent."
Schumer has been a strong proponent of NYC's booming tech industry, which houses companies such as Foursquare and Tumblr.
But he likely will face a tough battle with his proposal. A similar bill, the STEM Jobs Act, is currently being considered by the House and is scheduled for a vote Thursday. The House bill has support from both parties, but Schumer says he's working on a compromise.
"Whether the House bill passes or not, we are introducing this bill to create the basis for a compromise, which I believe can occur in the lame duck if each side gives a little bit," Schumer said. "The two bills are not that far apart."
Shara Tibken 19 Sep, 2012
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