Microsoft argues that allowing more people to enter the country on H-1B visas would "enable U.S. employers to maintain development work and other critical projects here in the U.S. This can also drive domestic job growth as companies work to fill related management, design, and business positions in the U.S."

Further, the company argues that people working in this country on H-1B visas should not be considered temporary.

"The reality for Microsoft and many other U.S. employers is that the H-1B visa program is temporary only in the sense that it is the visa used while efforts are undertaken to make our H-1B holders -- whether educated in the U.S. or abroad -- permanent U.S. residents. Rather than pretend that we want these highly skilled, well trained innovators to remain for only a temporary period, we should accept and indeed embrace the fact that we want them to become permanent U.S. residents, so that they can drive innovation and economic growth alongside America's native born talent."

Update, 10:02 a.m.: The San Jose Mercury News takes a look at the unique challenge laid-off H-1B workers face. While everyone feels the financial pressure to find a new job, people here on H-1B visas have to find a job within a few weeks or must leave the country under the rules of their visa.