Here are some of my thoughts on the impact of HR3012 (if at all the bill passes), primarily on EB2 and EB3 community. Of course, no one knows in advance whether the bill will pass or not and I feel there are strong arguments both in favor and against the bill.
As mentioned earlier, even if the bill passes the EB3 folks will have a wait time of 10 - 12 years after things stabilize, which is not the ideal solution. In the shorter term, based on the last pending inventory there are around 25K EB3-ROW applications that are pending with PDs up to July'07. Now, if the bill says that 15% of the visas will be reserved for ROW in the first year and lesser than 15% in the 2nd year and so on, then it will take 3+ years to clear the pending EB3-ROW applications. Also, since most of the visas will be allocated to EB3I/C, EB3-I/C will also reach a similar PD as EB3-ROW in around 3 years time. So, effectively the pending EB3-ROW applicants will need around 9+ years to get their GC as compared to their current waiting time of ~6 years; for the EB3I/C, the wait is already almost 10 years for earlier PDs (2002 - 2003) but the wait might be less (~8 - 9 years) for the later PDs (2006 - 2007). For EB2 folks, the scenario will be less extreme. There are 11K pending EB2-ROW applications with PD up to March'12 and it will take ~1 and 1/2 - 2 years to clear that backlog. So, the EB2-ROW folks will need around 2 to 2 and 1/2 years to get their green cards, which is still more than the time it takes now (~1 year). After things stabilize in 3 years time frame, the waiting time for EB2 folks will be in the range of ~3 years and for EB3, it will take around 10 - 12 years.
Maybe a summary of the impact of the bill (not going into argument of whether the bill should pass or not) from Spec, Q and others might be helpful to the readers.