Instant Circuit Split! Fourth Circuit, D.C. Circuit Come Down On Different Sides of Obamacare Subsidies

Just hours after the U.S. Court of Appeals for the D.C. Circuit threw out the federal tax regulation that implements the Obamacare subsidies available to people with annual incomes of up to 400 percent of the federal poverty level, the Fourth Circuit has upheld them, the National Law Journal's Marcia Coyle reports: "In King v. Burwell, the three-judge panel of the U.S. Court of Appeals for the Fourth Circuit rejected arguments that the subsidies—tax credits offsetting the cost of insurance for low- and moderate-income persons—are limited only to insurance purchased through state-created exchanges under the health insurance law."