Get lost.
Why are there so many foreign PhD students? Are Americans lazy? No; we have to work. Education is high-class leisure in America. Decades ago, Americans went back to school after paying off loans and getting experience. Not so anymore; the pipeline is too full to get back into it.
This credentialism is being used to prove that Americans are unqualified to work in their own country. We should not be so impressed with PhDs. I assure you that a decade into this policy we won’t be.
Your fact-free rants aside, what people forget is how few PhDs are there, actually. Let's take materials science; even the largest schools in the discipline do not even produce 30 PhDs per year. Less than 300 materials science PhDs graduate in total in the US per year; that's it. If all materials science PhDs ever granted in the US sit together (less than 30,000), they won't even fill a football stadium.
And you can't just scale things up, equipment is multi-million dollars and it takes years to train good scientists. Nativist attitudes like yours leads to a company like ASML residing outside the US rather than inside.
You want to dig your own country/communities' graves - go for it. Just don't expect kudos for doing harakiri.
To be fair, I do understand the point of international competition for those slots, but that’s not directly aligned with the interests of the American middle class that pays the tuition and grant money to those schools.
I don’t understand your ASML anecdote. The US has far more immigrant workers than any other country on earth. Is ASML avoiding us because that’s not enough? Are Taiwanese and Korean semiconductor industries failing due to their focus on citizen training and employment rather than labor imports?
The unfair advantages (and scams and frauds that go hand in hand as well) are extensively documented and well known, which is why our big tech companies are so high on foreign nationals in the first place, and why their countries of origin love it as well.
That being said this bill is an excellent step towards bringing jobs and manufacturing back to where they belong: the USA.