Not to mention, if they lower the caps the large tech companies will just create more offices abroad.
It's beneficial to have your work force centered in one location, but not necessary.
I'm in the US on an H1-B status, and am really getting tired of this ... whatever it is (debate?). I don't live in an apartment with four other immigrants, and never have. I own a house and have a wife (so I could actually switch out of H1-B). I spend my salary locally. I get paid well for the work I do. Yes, the salary is more than where I'm from, but the cost of living here is higher so the salary is proportionally higher (rent of a 2 bedroom apartment here is 5x what it costs where I grew up). I could easily go back to my country of origin, and buy a house there instead of here and spend my money there instead of here, while working for the same employer.
Reducing the number of H1-B's in the tech industry will have very little effect on making jobs available, and drive outsourcing higher. It will only really affect non-international companies and companies that require the more permanent presence of the worker.