Seriously, when was the last time you saw a circuit split happen in a matter of hours? The law nerd inside of me is quivering right now, I tell you!
The D.C. Circuit read a statute, § 36B, which provides tax credits (subsidies, in essence) to qualifying low-income individuals who purchase plans though an "Exchange established by the State." To them, that text is pretty clear -- state exchanges are eligible for subsidies, while the federal Heathcare.gov exchange is not. It came to the decision "reluctantly," of course, as it notes that if its holding stands, Obamacare will collapse absent legislative intervention. We have more on the D.C. Circuit opinion, and the end of the world as we know it, in our D.C. Circuit coverage.
But wait, there's more: the Fourth Circuit (and a dissenting D.C. Circuit judge) came to a contrary conclusion. How?