Until now, corporations and unions have been barred from spending their own treasury funds on broadcast ads or billboards that urge the election or defeat of a federal candidate. This restriction dates back to 1907, when President Theodore Roosevelt called on Congress to forbid corporations, railroads and national banks from using their money in federal election campaigns. After World War II, Congress extended this ban to labor unions.
In today's decision, the high court struck down that restriction and said the 1st Amendment gives corporations, just like individuals, a right to spend their own money on political ads.
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