The United States Court of Appeals, DC circuit, this morning issued a decision that cuts to the heart of the Affordable Care Act...deciding that subsidies for insurance purchase are only valid for state-run exchanges. More than 30 states have let the Federal government set up and run their insurance exchanges; these are the states that will be affected if the decision is held up.
This will be challenged in many ways, and personally I find it hard to believe it will stand, but who knows. Recall that many thought the initial case against ACA, on the basis of it being an unconstitutional regulation of commerce, was scoffed at by many.
I will have to read the decision carefully to see what the judges said. In the meantime, I attach here a link to the opinion (WSJ), and also a link to a post by Jonathan Adler at The Volokh Conspiracy.