Thanks for making this thread, Mike. Have had my fair share of VISA issues (still do), so wanted to add my 2 cents about what I understand about the new proclamation. Please do correct me if I'm wrong about anything below, I must mention that I'm just an MFE student, not an immigration lawyer.
I think the situation isn't as bad as what some people make it out to be, but it's not hunky-dory either. All of this confusion stems from all the misleading information out there about this new rule, so I'll try to summarize whatever I understood from a reading of the rule itself. But the rule itself doesn't seem super clear on its own, which is why I'm attaching the actual proclamation here too (because it seemingly differs quite a bit from what Trump and his aide mentioned during the press conference).
RESTRICTION ON ENTRY OF CERTAIN NONIMMIGRANT WORKERS
I'll focus on Sections 1 and 3 as they seem to be the most relevant.
Section 1:
Section 1(a) states that anyone entering the US (up to 12 months from now) with an H1B VISA should have had an accompanied $100k payment.
Section 1(b) states that no new H1B VISA petition made outside the US without an accompanied payment of $100k would be accepted for the next 12 months.
So basically, if you're ever outside the US, trying to come back with an H1B stamp would set you (or your employer) back $100k (this is a one-time charge unlike what was mentioned in the video). According to the given proclamation, this holds true for all H1B VISA holders, but I think the Press Secretary had mentioned something that this isn't applicable for current H1B VISA holders. Do note that she didn't specify whether or not people currently on H1B VISAs who get it renewed after the proclamation comes into effect are subject to these charges or not.
As for quant folks who work in the US after an MFE, they're mostly those who convert their F-1 VISA to an H1B, or those who get their H1B transferred (if changing companies within the US) or renewed (if their first 3 years are up). Technically, all of these conversions are possible without having to leave the US, but to get the VISA stamped on one's passport, one would have to return to their home country. Nothing about renewals or transfers is mentioned in the proclamation, so I'm assuming travel to one's home country purely to get your passport is stamped is also subject to the same cost as before.
Section 3:
Section 3(a) just mentions that the rule is applicable to all aliens not in the US after the proclamation takes effect.
Section 3(b) states that this temporary duration of not allowing any new H1B petitions without said 100k fee could be extended based on what Homeland Security thinks of the prevailing situation.
Overall, section 3 just warns all H1B holders that the duration of this temporary virtual ban on entry/exit for H1B VISA holders could be extended, so it'll be a smart idea to not exit the country on an H1B at all.
All-in-all, according to the proclamation, leaving the US while on an H1B VISA apparently will cost $100k (one-time, not yearly) if one aims to return; and this seems to hold true for people moving from F1 to H1B too.
