Calls for more selective, skilled immigration controls winning the day
Unfortunately, the effect so far seems to have been to deter those with more skills while leaving the need for lower-skilled labour potentially unmet. Perhaps that might change over time, but policy change doesn't always have the intended result.
While employers are basically taking the piss with the H-1B scheme, it helps keep down the absurdly high - and constantly-rising - cost of operating out of the Valley. Getting rid of the cheap labour might just, paradoxically, reinstate the full effect of financial gravity.