Bill Gates knows a thing or two about business. So you would think that when the Microsoft co-founder testifies before Congress, someone might listen.

Gates, like other top executives, recently pleaded with Congress to make a financially savvy decision: raise the cap on visas to bring highly-skilled foreign workers into the U.S.

Each year 65,000 visas for such workers are offered and snapped up immediately by companies seeking talent.

A bill introduced last week would double the number of “H1-B” visas offered annually. The legislation would also crack down on employers who misuse the visas to displace U.S.-born employees or undercut their salaries.

The Innovation Employment Act would also erase the 20,000-a-year cap on such visas for graduate students studying science, technology and related fields.

The bill addresses huge disconnects between the need for highly-skilled workers, the numbers of qualified people within the U.S. labor pool, and the current system for allowing technically-trained foreign workers to be legally employed.

The U.S. is not producing enough highly-skilled workers. The economy suffers from this deficit and from fears that keep foreign workers out.

A March study by the National Foundation for American Policy found that for every position filled with a highly skilled worker from abroad, U.S. technology companies employ five to seven additional workers, depending on the size of the firm. (See nfap.net/pdf/080311h1b.pdf.)

On April 1 companies may start applying for visas this year for highly skilled workers. By the end of the day, the 65,000 available are expected to be spoken for, leaving many companies without visas for needed workers.

Last year 120,000 applications were filed on April 1, with about 500 companies filing multiple forms in attempts to beat the system.

This, too, should be a clue to Congress that the current system is inadequate and must be changed.