In a landmark 5-to-4 ruling, the Supreme Court today in Citizens United v. FEC struck down major portions of the McCain-Feingold campaign-finance law. The Court left in place the disclosure requirement for corporations and the disclaimer requirement that identifies whether an ad is not paid for by the campaign. But little else remains. The Court overruled the highly controversial 1990 decision in Austin v. Michigan Chamber of Commerce, which upheld restrictions on corporate spending to support or oppose political candidates.

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This is a vindication of the First Amendment and a victory for the protection of political speech, which is at the heart of our political system. It will certainly increase the amount of speech. Even the New York Times recognizes this (well, sort of) ...

Thank goodness. McCain-Feingold was horrifying. Via Commentary » Blog Archive » Supreme Court Vindicates Political Speech, Pulverizes McCain-Feingold.