> seriously undermine wages for software devs here
Not really.
Competent devs are not cheap anywhere.
In order to noticeably lower wages in the US you need to bring a lot of software developers from other countries.
But the supply of software developers is quite limited.
Besides, as soon as wages start to move downwards, software development products start going down in cost (or go up in quality). That increases sales of software and increases demand for more software developers.
Not really.
Competent devs are not cheap anywhere. In order to noticeably lower wages in the US you need to bring a lot of software developers from other countries.
But the supply of software developers is quite limited.
Besides, as soon as wages start to move downwards, software development products start going down in cost (or go up in quality). That increases sales of software and increases demand for more software developers.