Big Campaign Finance Decision

Hotline reports:

Major trade organizations like the U.S. Chamber of Commerce will be able to spend unlimited amounts of money in this year's midterm elections thanks to a SCOTUS ruling today that experts said represented a major overhaul of the nation's campaign finance rules.

"It is a sweeping decision. In one opinion, the Court struck down all bans on corporate independent spending," said Marc Elias, a leading Dem election lawyer at Perkins Coie.

The long-awaited Citizens United v. FEC decision overturned the Court's ruling in Austin v. Michigan Chamber of Commerce, which banned corporations from using company money to fund political ads. Writing for the majority, Justice Anthony Kennedy cited First Amendment concerns and criticized the FEC for allowing the government to regulate political speech.

The case "will reflect a huge sea-change in campaign finance law," said Robert Kelner, a GOP election lawyer at Covington & Burling. "The Court went all the way. It really relieves any restrictions on corporate spending on independent advertising."