The Employ American Workers Act (EAWA) was a component of the American Recovery and Reinvestment Act of 2009 (ARRA, commonly called the "stimulus bill") passed by the 111th United States Congress and signed into law by Barack Obama, then President of the United States, on February 17, 2009.
Its extension to companies that may not otherwise have a large H-1B workforce was due to concerns that government funds given to banks be used to tackle problems of unemployment and depression in the United States, rather than fund the livelihoods of foreigners.
[8] EAWA received sharp criticism from immigration lawyers and economists who alleged that the law was an act of economically irresponsible protectionism, and that it starved companies of talented workers precisely when they needed those workers the most.
[5][8][9][10] An article in The Wall Street Journal noted that many students who had received confirmed job offers from financial institutions found their employers reneging on the offers due to the new restrictions.
[9] An article in EWeek noted that these restrictions on TARP and Section 13 recipients, most of them banks and other financial institutions, would likely make it easier for workers at technology companies to get H-1B visas, given the limited number of visas allotted every year and the fierce competition for those slots.