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Retailers displeased with upheld healthcare mandate
WASHINGTON — The U.S. Supreme Court has given the government permission to tax people for not having health insurance, essentially approving the individual mandate in President Obama's healthcare law.
“The Affordable Care Act's requirement that certain individuals pay a financial penalty for not obtaining health insurance may reasonably characterized as a tax. Because the Constitution permits such a tax, it is not our role to forbid it, or to pass upon its wisdom or fairness,” the court said in the ruling.
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Consumer confidence in June dips to five-month low
Washington, D.C. -- The Conference Board, in its monthly sentiment index released on Wednesday, said that confidence among U.S. consumers dropped in June for a fourth consecutive month, reaching a five-month low.
The research firm’s sentiment index fell to 62, from a revised 64.4 in May. The slide in confidence raises the risk that the recently revealed slowdown in hiring will cause households to curb spending.
The median forecast of 69 economists surveyed by Bloomberg News projected the U.S. confidence index would fall to 63.