Breaking news from CNN:
In a landmark ruling that will impact the November election and the lives of every American, the U.S. Supreme Court on Thursday upheld the controversial health care law championed by President Barack Obama.
The narrow 5-4 ruling was a victory for Obama but also will serve as a rallying issue for Republicans calling for repeal of the Affordable Care Act passed by Democrats in 2010.
An administration official described the White House reaction as elation, while GOP opponents criticized the high court’s reasoning and promised an immediate repeal effort. Certain Republican presidential nominee Mitt Romney’s campaign reported an immediate fund-raising spike of $300,000.
The decision impacts how Americans get medicine and health care, and also provides new court guidelines on federal power.
The most anticipated Supreme Court ruling in years allows the government to continue implementing the health care law, which doesn’t take full effect until 2014. That means popular provisions that prohibit insurers from denying coverage for pre-existing medical conditions and allow parents to keep their children on family policies to the age of 26 will continue.
In the ruling, the high court decided the most controversial provision — the individual mandate requiring people to have health insurance — is valid as a tax, even though it is impermissible under the Constitution’s commerce clause.