Will Trumps overhaul of the H1B Visa equal job security for Americans?

I have long been opposed to the current H1B system and want to see it entirely dismantled in favor of a bidding system paired with a clear path to citizenship for recipients so that we are both guaranteed H1B holders in the US are people whom US companies really need and are willing to pay top dollar for and that those same people stay in the US and contribute to it long-term.

This overhaul is not that. It will still have plenty of loopholes for companies to take advantage of in one way or another and will still allow abuses. Furthermore, the current economic situation of many white collar workers working from home for a year or more is likely making many employers rethink their stance on pay levels for local workers and opportunities to off/near-shore work that's being done remotely anyway. In short, I think this overhaul might help improve job security and pay for some workers in some industries, but overall it's not a great solution if those are your goals.