00:00It's Benzinga, bringing Wall Street to Main Street.
00:02A federal judge vacated President Trump's $100,000 fee for H-1B visa applications on Monday,
00:09ruling that the policy violated the Administrative Procedure Act and the Constitution, according to CNBC.
00:15Judge Leo Sorokin of the U.S. District Court in Boston found the $100,000 payment amounted to a tax
00:21that Congress had not authorized the executive branch to impose.
00:25Sorokin cited a February Supreme Court precedent that struck down Trump's reciprocal tariffs on the same grounds.
00:31Trump implemented the fee last September, claiming the program was being misused to replace American workers
00:37and harm U.S. economic and national security.
00:39Prior to the change, fees ranged from $2,000 to $5,000 per application.
00:45Only 85 payments of the $100,000 fee had been made as of February 15th.
00:49The Trump administration plans to appeal the ruling.
00:52For all things money, visit Benzinga.com.
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