US Supreme Court strikes down campaign finance laws

WASHINGTON - The US Supreme Court Thursday struck down decades-old restrictions on corporate spending in political campaigns, potentially opening the floodgates for a wave of company-backed advertisements in the next election.

The much-awaited decision removes many of the shackles that had been placed on US corporations around election time. Companies have been prevented since 1947 from spending money touting a specific political candidate, though they can run issue-based ads.

In a 5-4 ruling, the highest US court said those limits went against free-speech protections in the US Constitution. Companies will be allowed to run ads in future that overtly support political candidates.

“The government may regulate corporate political speech through disclaimer and disclosure requirements, but it may not suppress that speech altogether,” wrote Justice Anthony Kennedy on behalf of the majority.

The court also lifted restrictions imposed in 2002 that barred companies, unions and non-profit organisations from running ads in the final 30 days prior to an election.

The decision went beyond the actual case that had been argued before the court, which involved a documentary film by a conservative non-profit group that was critical of Hillary Rodham Clinton as she ran for the Democratic Party’s presidential nomination.