❗Let's close the gap: We still need your help to raise $40,000 by April 1. Donate now

Ruling changes campaign finance law

Marketplace Staff Jan 21, 2010
HTML EMBED:
COPY

Ruling changes campaign finance law

Marketplace Staff Jan 21, 2010
HTML EMBED:
COPY

TEXT OF STORY

Kai Ryssdal: For years, one of the underlying principles of campaign finance law in this country has been that in politics money is speech, which means there are some pretty strong First Amendment protections about who gets to spend how much on political campaigns.

Those protections got a whole lot stronger today with the Supreme Court’s ruling in a case called Citizens United v. Federal Election Commission. In a 5-4 decision, the justices abolished limits on corporate spending in national political races. From Washington, Brett Neely starts us off.


BRETT NEELY: Until today, companies and labor unions could not spend their own money for or against a political candidate. They were limited to passing on contributions from their employees or members. They also could not air issue ads close to elections. The conservative court majority threw out those restrictions on free speech grounds.

Companies and unions can now spend as much cash as they want to support or oppose a candidate through advertising. But the court kept an existing ban on direct contributions to candidates’ campaigns.

Today’s decision centered on Citizens United, a small conservative advocacy group. It aired an anti-Hillary Clinton documentary in 2008 financed by corporate donors.

On the steps of the Supreme Court this morning, Citizens United head David Bossie was ecstatic.

DAVID BOSSIE: Whether you’re an individual, whether you’re a corporation or a union, it doesn’t matter. You can now participate fully and freely in the election process.

In a written statement this afternoon, President Obama said the court’s decision further drowns out the voices of average Americans in politics.

In Washington, I’m Brett Neely for Marketplace.

There’s a lot happening in the world.  Through it all, Marketplace is here for you. 

You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible. 

Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.