Supreme Court Strikes Down Campaign Finance Reform

WLS-AM is reporting that the Supreme Court has just struck down campaign finance reform rules that have been in place for decades, including McCain-Feingold. They have ruled that entities such as corporations and unions may spend freely to support or oppose candidates as they see fit.

UPDATE: More from TPM

In a ruling that radically reshapes campaign-finance law, the Supreme Court has struck down a key campaign-finance restriction that bars corporations and unions from pouring money into political ads.

The long-awaited 5-4 ruling, in the Citizens United v. FEC case, presents advocates of regulation with a major challenge in limiting the flow of corporate money into campaigns, and potentially opens the door for unrestricted amounts of corporate money to flow into American politics.