Transcript for Opening the Floodgates of Campaign Cash: Supreme Court Loosens the Reins on Political Contributions.
The floodgates of campaign cash opening even wider. And the Supreme Court today loosening the reins on political contributions. In a 54 decision the conservative justices said donors can't write bigger checks but they can write more of them. -- now let's say you support a candidate you can donate up to 2600 dollars to them that doesn't change. But in today's ruling the court struck down to 123000. Dollar cap on all your donations. So now he can give to -- many candidates as you want no limits wealthy donors can spread their money around widely it's a big move for billionaires like Sheldon -- and on the right. And George Soros on the left. To open up their wallets directly to candidates and new fundraising committees to -- the ruling is about freedom and rights freedom of speech is -- -- -- to others is about buying and selling power equipment is trying to buy America. The first big test maybe in the 2016 race for the White House -- donors may now be able to give candidates and their committees more than one million dollars. And it really takes us back to the post Watergate era and the reforms that were set up then but Chief Justice John Roberts ruling. Money and politics may at times -- repugnant to -- but so too does much of what the First Amendment vigorously protects. The latest in a series of rulings putting even more money into politics. Just -- ABC news Washington.
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