BREAKING: Obamacare Subsidies Upheld By Supreme Court!

In a 6-3 decision just announced, the Court agreed with the Obama administration in the King v. Burwell case that subsidies under the Affordable Care Act would be available for people covered by the Federal exchange, just as they are under State-run exchanges.

Here's the decision, authored by Chief Justice Roberts.

Here's the concluding rationale:

Congress passed the Affordable Care Act to improve health insurance markets, not to destroy them. If at all possible, we must interpret the Act in a way that is consistent with the former, and avoids the latter. Section 36B can fairly be read consistent with what we see as Congress’s plan, and that is the reading we adopt.

Huge victory for common sense, judicial restraint and, above all, Obamacare recipients!

UPDATE:  President Obama reacts:

"As the dust has settled, there can be no doubt that this law is working. It has changed, and in some cases, saved, American lives," Obama said.

"Today after more than 50 votes in Congress to repeal or weaken this law, after a presidential election based in part on preserving or repealing this law, after multiple challenges to this law in front of the Supreme Court, the Affordable Care Act is here to stay," Obama added.

UPDATE II:  Ian Millhiser delves into how the way the Court rendered the decision only strengthened it against future challenges (go here to read why):

It is also the most perfect victory that the Obama administration could have achieved in this case. King not only preserves Obamacare today — it also sharply limits the scope of future cases seeking to undermine the law.

UPDATE III:  Jeffrey Toobin on the rot at the center of the suit:

[T]his lawsuit was from its inception a shameful and cynical exercise, which illustrated the debasement of the contemporary conservative legal movement.