Appeals court throws out IRS rule on Obamacare subsidies

A U.S. appeals court on Tuesday threw out a federal regulation that implements key subsidies that are vital to President Barack Obama's healthcare overhaul. The U.S. Court of Appeals for the District of Columbia Circuit accepted one of the main legal challenges to the policy by conservatives opposed to an expansion of the federal government. The subsidies, in the form of tax credits, are available to people with annual incomes of up to 400 percent of the federal poverty level, or $94,200 for a family of four.