Reuters: Regulatory News: UPDATE 1-US top court upholds key Obama healthcare part

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UPDATE 1-US top court upholds key Obama healthcare part Jun 28th 2012, 14:24 Thu Jun 28, 2012 10:24am EDT WASHINGTON, June 28 (Reuters) - A sharply divided U.S. Supreme Court on Thursday upheld the centerpiece of President Barack Obama's signature healthcare overhaul law that requires that most Americans get insurance by 2014 or pay a financial penalty. "The Affordable Care Act's requirement that certain individuals pay a financial penalty for not obtaining health insurance may reasonably be characterized as a tax," Chief Justice John Roberts wrote for the court's majority in the opinion. "Because the Constitution permits such a tax, it is not our role to forbid it, or to pass upon its wisdom or fairness," he concluded. The vote was 5-4.

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