(Reuters) - The U.S. Supreme Court upheld President Barack Obama's healthcare law on Thursday in an election-year triumph for him and fellow Democrats and a stinging setback for Republican opponents of the most sweeping overhaul of the unwieldy U.S. healthcare system in about a half century.
In a 5-4 ruling based on the power of Congress to impose taxes, the court preserved the law's "individual mandate" requiring that most Americans obtain health insurance by 2014 or pay a tax.
Opponents of the law had argued the mandate was an overreach by the federal government into the private lives of citizens. The court was deeply divided on this issue, but the majority ruled that Congress' taxing power was more important.
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