I feel that 2 simple rules would capture all the value of H1-Bs but naturally limit their abuses:

1. H-1Bs applications are ranked by total comp. 2 years of that comp is unconditional (no PIPs, no performance management, no excuses). I can see an argument to bucket this by industry.

2. Only job codes where the YoY median pay and total employment are currently at a 3 year high are eligible to receive H-1Bs.

The comp requirements would devastate the body farms. The unconditional comp will put major pressure on the system of working H1-Bs to the bone, and not thoroughly vetting those hires. Companies that layoff in the thousands, or layoff their highest paid (oldest) employees are simply poisoning the H-1B well for that industry. Deep cuts can't be made up with H1-Bs for 3 years or until all the layoffs have been recouped industry-wide.