The Supreme Court gives big business, unions, and nonprofits more power to spend money freely in elections. Ruling gives special interests "more power in Washington," president says. This could have an immediate effect on this year's congressional midterm elections. The issue depends on whether the corporations' spending could be strictly regulated or whether they have free-speech rights to spend their money to influence elections like individual donors do.
Obama does not like this and said, "It is a major victory for big oil, Wall Street banks, health insurance companies and the other powerful interests that marshal their power every day in Washington to drown out the voices of everyday Americans." I would have to agree with Obama. We need to limit corporate campaign spending.
The Supreme Court's decision today is a victory for the First Amendment and the right of all Americans to participate in the political process," said Theodore Olson, who helped argue for the bill.
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