About that $100,000 H-1B visa fee

Summary

Marketplace Morning Report — "About that $100,000 H-1B visa fee"

Date: September 22, 2025
Host: David Brancaccio

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Overview

This episode of Marketplace Morning Report delivers a brisk roundup of significant economic and business stories, focusing on a newly announced $100,000 fee for H-1B visa applications, rising political lobbying from the artificial intelligence industry, the uncertain future of TikTok in the U.S., and changes to a vital Broadway tax credit. The show features clear explanations, expert opinions, and targeted industry insights, all packed into under ten minutes.

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Key Discussion Points & Insights

1. The $100,000 H-1B Visa Fee — Policy and Reaction

[01:17 – 02:54]

• Breaking News: The Trump administration announced a new $100,000 fee for new H-1B visa applications for skilled foreign workers (technology, finance, etc.).
  • Initial confusion caused panic, as many thought the fee would apply to existing visa holders.
  • The administration clarified that the fee is one-time and applies only to new applicants.
• Motivation: The administration claims the H-1B program has been "exploited" to replace American workers with lower-paid immigrants.
• Industry Response:
  • Companies with H-1B workers overseas rushed to get them back before the policy's start deadline.
  • Supporters: Argue U.S. firms can't fill all high-skill positions with American workers.
  • Legal Challenge: The American Immigration Lawyers Association hints at lawsuits, alleging the move illegally rewrites existing law.
• Notable Quote:
  • “The new fee quote will not stand up in court.” — Reported by Nancy Marshall Genzer, attributing the sentiment to immigration lawyers ([02:38])

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2. AI Industry Adopts Crypto’s Political Tactics

[02:54 – 04:15]

• Political Donations: In the previous election, cryptocurrency firms provided nearly half of all corporate political donations. The Trump administration and Congress remain crypto-friendly.
• AI Political Network: With midterms looming, companies in artificial intelligence are forming lobbying groups.
  • Interview with Pamrith Ramkumar (Wall Street Journal):
    • Leading the Future: New political network aiming to counteract what they call “AI doomer” narratives pushing aggressive regulation.
    • OpenAI’s leadership is highly involved, especially as it seeks a for-profit status in California despite opposition.
    • The AI sector is using lobbying strategies borrowed from crypto—responding to perceived hostility among some Democrats and regulators.
  • Notable Quote:
    • “They are very much trying to apply that crypto playbook to AI.” — Pamrith Ramkumar ([04:08])

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3. TikTok’s Uncertain US Future after Trump-Xi Call

[04:15 – 05:01]

• After a call between Presidents Trump and Xi, the deal for TikTok’s operations remains unclear.
  • Trump claims there’s an agreement; China has not confirmed.
  • The White House says a new board—six Americans and one Chinese member—will control TikTok’s U.S. algorithm.

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4. The Broadway Tax Credit Is Ending

[06:33 – 09:00]

• Background: New York State offered a tax credit post-COVID, reimbursing 25% (up to $3M) of Broadway production expenses.
• Impact: The credit was crucial to getting productions back onstage after the pandemic, mitigating financial risk and drawing investment.
• Current Challenge:
  • The tax credit will expire when funds run out at the end of October 2025.
  • Broadway League is lobbying for an extension.
  • International tourism, which makes up 21% of the Broadway audience, has slowed, compounding financial worries.
• Industry Voices:
  • “It was instrumental in getting us back after the pandemic, old shows, new shows, because nothing was assumed that we'd be able to get back up…” — Jason Lacks, Broadway League President ([07:04])
  • “It became a little bit of a drug for Broadway that it really couldn't kick, because productions were depending on it to sell shows to investors.” — Philip Boroff, Broadway Journal Editor ([07:26])
  • “The business of musicals, especially new musicals, is very precarious right now, and losing that tax credit doesn't help.” — Philip Boroff ([08:11])
  • “As goes New York, so goes Broadway. And it's reciprocal. As goes Broadway, so goes New York City.” — Jason Lacks ([08:49])
• Hopes for Revival: Big names (e.g., Keanu Reeves, Lea Michele, Kristin Chenoweth) could help draw crowds, with or without the tax credit.

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Notable Quotes & Memorable Moments

• On new H-1B fee legality:
  • “This new fee... will not stand up in court.” (Nancy Marshall Genzer quoting the American Immigration Lawyers Association, [02:38])
• On AI industry’s political strategy:
  • “They are very much trying to apply that crypto playbook to AI.” (Pamrith Ramkumar, [04:08])
• On Broadway’s financial habits:
  • “It became a little bit of a drug for Broadway that it really couldn't kick...” (Philip Boroff, [07:26])
• On Broadway’s symbiotic relationship with NYC:
  • “As goes Broadway, so goes New York City.” (Jason Lacks, [08:49])

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Key Timestamps

• [01:17] — Introduction to the $100,000 H-1B visa fee
• [01:52] — Nancy Marshall Genzer explains the policy and industry/legal response
• [02:54] — Crypto’s political influence shifts to AI
• [03:25] — Interview with Pamrith Ramkumar about AI lobbying
• [04:15] — TikTok’s fate after Trump-Xi call
• [06:33] — Broadway’s recovery, tax credit importance, and looming expiration

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Conclusion

This edition of Marketplace Morning Report guides listeners through critical developments in immigration, tech industry lobbying, global business, and the arts. With clear context and experts’ voices, the episode distills complex topics into actionable takeaways, highlighting both the fluid nature of government policy and the interconnectedness of economics, law, and culture.

Transcript

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[David Brancaccio]

Our evolving understanding of a new Hundred grand charge for skilled work visas I'm David Brancaccio in Los Angeles. The Trump administration is working to tamp down alarm over a new hundred thousand dollar visa fee it announced on Friday for skilled workers. Technology, Finance and other major companies that depend on employees holding H1B visas had initially thought the fee would be applied to existing visa holders. No, just new applicants only, the White House later clarified. Marketplace's Nancy Marshall Genzer has more.

[Nancy Marshall Genzer]

President Trump issued a proclamation on Friday. It says the H1B visa program, which allows US companies to hire highly skilled workers from abroad, has been exploited and used to replace American workers with lower paid immigrants. The proclamation said the new policy took effect at 12:01am Eastern Time yesterday. Companies with H1B workers who were temporarily abroad panicked and told them to return to the US before the deadline. Over the weekend, Trump administration officials clarified that the need $100,000 fee only applies to new H1B visa applications and that it's just a one time fee. Supporters of the H1B program say US firms can't find enough highly skilled American workers. The American Immigration Lawyers association is hinting at lawsuits. It says the Trump administration is trying to rewrite laws created by Congress, adding that the new fee quote will not stand up in court. I'm Nancy Marshall, Genserv for Marketplace.

[David Brancaccio]

During the last presidential election, the cryptocurrency industry accounted for nearly half of all the corporate money spent. This according to the watchdog group Public Citizen. Now we have a Congress and the Trump administration that is more friendly to the crypto industry. With 13 and a half months till the midterm elections, it is now the artificial intelligence industry looking for influence. Pamrith Ramkumar is a reporter at the Wall Street Journal who recently wrote about an artificial intelligence industry political network.

[Pamrith Ramkumar]

This network is called Leading the Future and they're trying to fight back on what they call sort of a network of AI doomers who are pushing more aggressive government regulation in states and at the federal level. And it's also a response to other things going on. So OpenAI executives are very involved in launching this new super PAC network and OpenAI, the maker of ChatGPT, they're now trying to convert from a nonprofit into a for profit entity in California and they're facing political opposition. So in general, there is a sense from a lot of AI executives that a lot of Democrats and others aren't too friendly to their industry and could obstruct their progress in the coming years. So they are very much trying to apply that crypto playbook to AI.

[David Brancaccio]

You can hear the full conversation in our tech program via the Marketplace homepage now. It's still not exactly clear what was agreed regarding the future of the popular China based social media app TikTok. Following a call between Presidents Trump and Xi on Friday. Trump says she approved a deal, but China's not confirming that. The White House suggests the TikTok algorithm in the US will be controlled by a seven person board with six US members.

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[David Brancaccio]

It's been four years since Broadway reopened. After the COVID closure that had lasted 18 months, things improved due in part to a tax credit created by New York State, which lets the industry right off from state taxes 25% of a show's production expenses limit $3 million. But now it's going away, Jeff London reports.

[Jeff London]

Jason Lacks, president of the Broadway League, which represents producers and theatre owners, says the tax credit has been crucial for the recovery of New York's commercial theater.

[Jason Lacks]

It was instrumental in getting us back after the pandemic, old shows, new shows, because nothing was assumed that we'd be able to get back up and that the audiences would come back and feel comfortable coming back and be excited about coming back. And luckily they did.

[Jeff London]

Broadway shows from Wicked to the Lion King, as well as new productions, availed themselves of this tax credit.

[Philip Boroff]

I think it became a little bit of a drug for Broadway that it really couldn't kick because productions were depending on it to sell shows to investors.

[Jeff London]

Philip Boroff is editor of the newsletter Broadway Journal, which tracks theater finances, and.

[Philip Boroff]

Investors were depending on it to reduce the risk so that theoretically, at least, a show that flopped would return something to investors.

[Jeff London]

Only one out of 10 shows returns its investment. Last year, five new musicals, which opened in the spring, closed early, losing around $100 million. It's very concerning, says Philip Boroff, because that tax credit is about to go away.

[Philip Boroff]

The business of musicals, especially new musicals, is very precarious right now, and losing that tax credit doesn't help.

[Jeff London]

While the credit was extended to 2027, the funds run out at the end of October. So Jason Lack says the Broadway League has been lobbying to replenish it to.

[Jason Lacks]

Keep the investment coming, because without investment there is no Broadway and There is.

[Jeff London]

No Broadway without international tourists, and New York is seeing a slowdown in visitors from abroad. According to Broadway League statistics, they make up 21% of Broadway's audience.

[Jason Lacks]

Says Jason Lacks, the international tourism is huge. I mean, in so many ways. As goes New York, so goes Broadway. And it's reciprocal. As goes Broadway, so goes New York City.

[Jeff London]

Still, with big stars like Keanu Reeves, Lea Michele and Kristin Chenoweth slated to perform this fall, Broadway's producers hope they can help fill the theaters and fill the coffers, tax credit or not. In New York, I'm Jeff London for Marketplace.

[David Brancaccio]

It's the Marketplace Morning Report from APM American Public Media.

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