Thursday, June 26, 2008

Supreme Court Overturns Millionaire's Amendment

With the Supreme Court’s ruling on DC’s handgun ban being released today, there was another important ruling that appeared to be largely ignored. In a decision today in the case of Davis v. Federal Election Commission, the Supreme Court overturned the "Millionaire's Amendment" of the McCain-Feingold campaign finance legislation. The decision, written by Justice Alito, essentially declared that the amendment placed a "potentially significant burden" on anyone who decided to self finance their own campaign.

For those of you who don't know, the Millionaire's Amendment was put in place to help prevent the extremely wealthy from simply being able to "buy" themselves a seat in Congress. It did so by allowing the opponent of anyone who invested more than $350,000 of their own money to receive larger contributions from individual donors.

More analysis will be coming on what this means for the 2008 elections.

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