I'm a computer science professor who started as an assistant professor on an H-1B visa, making less than $110,000. Since then, I've won a CAREER award from the National Science Foundation and brought in a few millions of dollars of federal grant funding, as well as established strong ties with industry and government labs. I've also mentored many graduate and undergraduate students who are US citizens, some who have gone into graduate school with fellowships that have been based on work in my lab. Others have gone onto academic positions of their own after earning a PhD under my advising. Another group of students has gone on to get excellent jobs at major tech companies.
Were this program in place, I would not have been able to get a job in the US. I'm now a green card holder on the path the naturalization, making above the threshold that Senator Cruz proposed, and bringing hundreds of thousands of dollars a year to the university where I work. You should ask yourself whether I have been a net positive for the United States or not. If this proposal, supported by many here, goes through, others like me will not even have a chance to prove their value.
I get the issues with the H-1B and the lock-in to companies while making under the prevailing wage, but this is a blunt-force solution that could end up having wildly unintended consequences.
UPenn, Cornell, Stanford immediate come to mind if you're looking to play at the top level. Look at proceedings of the POPL and PLDI conferences to get a sense of what people are doing and where they are doing it.
Thus spake the master programmer: "When a program is being tested, it is too late to make design changes." -- Geoffrey James, "The Tao of Programming"