Supreme Court Strikes Down Law Restricting Corporate Spending

In a significant reversal of court precedent, the Supreme Court today invalidated decades-old federal legislation restricting corporate spending in political campaigns.

In a 5-4 decision, the court called into question the constitutionality of all federal and state regulation of independent corporate political advocacy, including a federal law dating back to 1947 and the laws of dozens of states.

President Obama today assailed the ruling and promised a "forceful response" to the court's decision, which he says gives "a green light to a new stampede of special interest money in our politics."

The court effectively struck down restrictions on corporations and unions for how and when they spend money on ads and other political communications during campaigns.

Writing for the majority, Justice Anthony Kennedy concluded, "When Government seeks to use its full power, including the criminal law, to command where a person may get his or her information or what distrusted source he or she may not hear, it uses censorship to control thought. This is unlawful." - ABC News Story