The H1-B quota should be kept at a level to provide just enough engineers to maintain US companies competitive. As of right now, there is absolutely no need to increase the quota.
It is true that the H1-B and similar visa programs allow the best to come to the US. Unfortunately the quality of engineers and scientists that use most of them is not great when compared to what US universities produce. Picture them as “generic” engineers vs. brand name engineers (US graduates).
For most companies the cost of hiring a foreign engineer vs. a US engineer is about the same. Even if they are paid less, the visa and lawyers fees will even out the cost. The reason companies hire foreign engineers is primarily that there not enough US engineers. The US for years has been producing very few engineers. Engineering is hard and there are easier ways to earn money. If you remove the supply of foreign engineers the demand and thus wages will go up. This may motivate more people to study engineering but it will take several years. In the mean time companies may be required to go were the engineers are. A well managed H1-B visa program could avoid this.
