Supreme Court Vindicates Political Speech, Pulverizes McCain-Feingold

Supreme Court Vindicates Political Speech, Pulverizes McCain-Feingold
"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. As this report notes:
The majority, invoking the Constitution’s free-speech clause, said the government lacks a legitimate basis to restrict independent campaign expenditures by companies. . .“The government may regulate corporate political speech through disclaimer and disclosure requirements, but it may not suppress that speech altogether,” Justice Anthony Kennedy wrote for the majority. Companies, which had been barred since 1947 from spending money in support or opposition to a candidate, potentially now will pump millions of dollars into campaigns. Companies, and possibly labor unions as well, will be able to use their general-treasury dollars to punish or reward lawmakers for their votes on legislation.
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."