Authored by Zachary Stieber via The Epoch Times,
President Donald Trump's $100,000 fee for H-1B visas is not legal, a federal judge said on June 8.
President Donald Trump speaks before signing an executive order in the South Court Auditorium in the Eisenhower Executive Office Building in Washington on Aug. 5, 2025. Win McNamee/Getty ImagesThe fee for visas for specialty foreign workers "imposes a tax on H-1B petitions without the requisite delegation by Congress," U.S. District Judge Leo Sorokin said in a 42-page decision.
While the president is able to restrict noncitizen entry into the United States, Congress has the power to tax, and federal law does not delegate it, the judge said.
He also ruled that the fee violated a law called the Administrative Procedure Act because it was issued without allowing the public to comment before it took effect, and ordered officials to vacate the policy in its entirety.
The White House did not immediately respond to a request for comment.
The ruling came in response to a lawsuit filed by Massachusetts and 19 other states. They challenged the fee, which Trump announced in September as a way to reduce taxes and bring better people into the country.
A different judge in late 2025 had upheld the fee, finding that Trump had the authority to increase the fee from between $2,000 to $5,000 to the $100,000 level. An appeal is pending in that case.
This is a developing story that will be updated.
Tyler Durden Mon, 06/08/2026 - 15:20There is certainly a growing consensus on Wall Street that the tax-refund sugar high is fading just as consumers' financial profiles deteriorate. The latest read-through comes from UBS analyst Dennis Geiger, the bank's U.S. restaurants equity research analyst, who warns that a toxic cocktail of macro pressures is likely to crimp restaurant spending in the second half of the year.
Geiger warned in a note that elevated gas prices at the pump appear to be offsetting tax-rebate benefits, while lower-income, younger, and Hispanic consumers remain among some of the weakest demand cohorts.
"Challenged traffic and sales trends likely largely reflect depressed consumer sentiment across several cohorts, elevated gas prices, and other macro headwinds," the analyst said, adding, "We are more cautious on restaurant industry trends into 2H26, assuming near-term headwinds persist, rebate check benefits fade, and risk that gas prices stay elevated."
He said that margin pressure will likely persist for restaurants through summer and into fall as commodity inflation remains a problem.
Despite the negative backdrop, he pointed out valuations for restaurant stocks look attractive:
Despite challenged fundamentals, negative investor sentiment, and valuation pressure, we believe restaurants are in a difficult cycle currently, rather than a longer-term structurally challenged position. Valuations appear attractive relative to history, but with shares likely needing a positive inflection in sales / demand trajectory or favorable macro developments / headlines to realize notable upside.
His top picks are Dutch Bros, Brinker International, and Yum! Brands, while his least favorite restaurant stocks are Cheesecake Factory and Cracker Barrel Old Country Store.
Geiger's chartpack visualizing restaurant trends:
Sales Trends
QSR Sales and Traffic Trends
Casual Dining Trends
Dismal Consumer Sentiment still a Problem
The full chart pack can be viewed by Professional subscribers here at our new Marketdesk.ai portal.
Geiger's caution for the restaurant industry adds to our theme of emerging consumer stress (read the latest here).
Tyler Durden Mon, 06/08/2026 - 15:00The USGS reported that a magnitude 6.4 earthquake struck just off the coast of Cuba around 2 p.m. ET, with residents across parts of Florida reporting feeling the shaking.
Notable quake, preliminary info: M 6.4 - 118 km WNW of Mantua, Cuba https://t.co/EUaVqZo8M1
— USGS Earthquakes (@USGS_Quakes) June 8, 2026The offshore quake was detected near Pinar del Río, located in western Cuba. Initial reports did not indicate major damage or a tsunami threat.
NWS Miami reported "shaking across Southwestern Florida within the past 30 minutes."
6/8 @ 2:15pm: We've received several recent reports of shaking across Southwestern Florida within the past 30 minutes.
An earthquake has occurred just west of Cuba in the southern Gulf. @USGS_Quakes has since revised the magnitude down to a 6.1 at a depth of 10km. https://t.co/f1OyzUI6Sf pic.twitter.com/MAB4ptNk74
*Developing...
Tyler Durden Mon, 06/08/2026 - 14:46Authored by Zachary Stieber via The Epoch Times,
The Department of Justice (DOJ) on Monday announced it has asked courts across the country to strip more than a dozen people who have pleaded guilty or been convicted of crimes of their U.S. citizenship.
Acting Attorney General Todd Blanche speaks during a press conference in Washington on April 27, 2026. Madalina Kilroy/The Epoch TimesFilings in federal court requested judges revoke the naturalization of 17 individuals, including Jean Claude Alfred, a 68-year-old Haitian native who became a U.S. citizen in 1994.
Federal officials said that Alfred, who does not have a lawyer listed on the court docket, was convicted in 1996 of attempting sexual battery and indecent assault on his daughter, for conduct that began three years prior.
Alfred "concealed his crime throughout the naturalization process," DOJ lawyers told the federal court in Miami.
Another man, 39-year-old Armando Mendoza of Mexico, received sexually explicit images of minors as early as 2009 and pleaded guilty in 2013. Mendoza failed to disclose the crime in his 2011 citizenship application and interview, which means his citizenship should be revoked, officials said in a separate filing in federal court in California.
Mendoza has not hired an attorney, according to the court docket.
"When criminal aliens exploit the naturalization process by breaking the law, there are consequences," acting Attorney General Todd Blanche said in a statement. "Criminal aliens are lying about their past crimes, including drug dealers, sexual predators, and fraudsters."
Homeland Security Secretary Markwayne Mullin added that "American citizenship is a privilege, and it must be earned honestly."
He said, "If you come here break our laws, and lie in your immigration proceedings, you forfeit that privilege."
Developing...
Tyler Durden Mon, 06/08/2026 - 14:40