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Legal Questions and Answers 1. I heard that in the future, only those with a master's degree can apply11. I heard that in the future, people with a master's degree can directly get a green card. Is this true...

Legal Questions and Answers 1. I heard that in the future, only those with a master's degree can apply11. I heard that in the future, people with a master's degree can directly get a green card. Is this true? Answer: On November 30, 2012, the U.S. House of Representatives passed the STEM Jobs Act of 2012 by a simple majority of 245 votes to 139 votes. This signals that the bill will move to the Senate for a vote. The STEM Employment Act of 2012 aims to revoke the current green card system and transfer its annual green card quota of 55,000 to foreign doctoral and master's degree graduates who have obtained science, technology, engineering, and mathematics (STEM) majors from U.S. colleges and universities. Green card quotas will be given priority to qualified doctoral graduates, and if any are left, they will be transferred to master's degree graduates. The bill was submitted to the House of Representatives for a quick vote on September 20 this year, but was rejected because it failed to obtain more than two-thirds of the votes in favor. On this basis, the Republicans added a provision that allows the spouses and minor children of U.S. permanent residents to come to the United States to wait for a green card one year after they apply for a green card, but they can only work and enjoy benefits in the United States after they actually obtain a green card. The United States issues approximately 80,000 family-based immigration green cards every year. Although the bill passed the House of Representatives, its future in the Senate, where Democrats hold a majority, is uncertain. On November 29, the White House issued an executive policy statement explicitly opposing the 2012 STEM Jobs Act. The Democratic Party has no disagreement with the Republican Party in attracting high-tech professionals to enhance the United States' competitive advantage, but they advocate a more comprehensive reform of the democratic system. Attracting STEM talents should be part of this comprehensive reform. Unless the two parties are willing to compromise and reach an agreement, the 2012 STEM Employment Act, which has passed the House of Representatives, is unlikely to pass in the Senate and will eventually die. 2. Can I transfer all of my assets, nearly $4 million, to my children without paying gift taxes? Answer: In 2012, each person enjoyed a gift tax exemption of NT$5.12 million, which will change on January 1, 2013. Therefore, if you carefully plan the property you will leave to your children in the future and take advantage of the lifetime gift tax exemption of NT$5.12 million, the couple can enjoy a tax exemption of NT$10.24 million. 2012 is a unique year for the "1%" or millionaires, and this opportunity cannot be missed. As the estate tax exemption plummets from $5.12 million this year to $1 million next year, the Congressional Budget Office estimates that the number of rich people subject to estate tax will surge from 4,000 in 2012 to 55,000 in 2013. Therefore, families with potential estate tax payments of up to $50,000 are making a final push to downgrade themselves to "sub-millionaires" before the end of the year in order to seek exemption.