Following the Supreme Court ruling of Citizens United v. Federal Election Commission this past January, corporations and unions are no longer limited in the amount of money they can contribute for “political broadcasts,” or campaign advertisements. As a result, the amount of money that corporations and unions contribute will likely increase in 2010.
In another instance of corporations being affected by campaign finance limits, BP donated over $1.3 million in 2000, but after the ban of a type of funding known as “soft money” by the 2002 Bipartisan Campaign Reform Act BP only gave $490,000. Thus, after a business interest became limited in campaign contributions, it spent less, as the graph below from Open Secrets shows. Though, now that business interests are no longer limited, they will likely spend more for their interests. Exactly how much is among the subjects Left and Right News will continue to follow.
BP Contributions to Political Campaigns: