It will too. I didn’t see it in this article, but there were some articles posted her on FR that said 400k new H1B’s under this “immigration” bill. If so, you can kiss I.T. good bye.
I'm not sure the average American IT worker truly understands how much their profession is detested by corporate management, from Boards of Directors on down. IT is seen as an overpriced, unmanageable cost center that may be necessary on some level, but needs to be as rigidly cost controlled as janitorial or landscaping services. The GOP is just listening to what their big donors want, and think with H1B they are actually creating new jobs by lowering the overhead for American business.
Today's IT workers are still being punished for the excesses of the late 90's. Nevertheless, the message is clear - corporate America dislikes the very existence of IT workers, so rather than wasting time fighting the trend you should be retraining and moving toward more business-oriented roles.