BREAKING: Supreme Court Strikes Down Individual Political Contribution Limit

Here’s the decision, and here’s a quick write-up by AP.

The justices said in a 5-4 vote Wednesday that Americans have a right to give the legal maximum to candidates for Congress and president, as well as to parties and PACs, without worrying that they will violate the law when they bump up against a limit on all contributions, set at $123,200 for 2013 and 2014. That includes a separate $48,600 cap on contributions to candidates.

But their decision does not undermine limits on individual contributions to candidates for president or Congress, now $2,600 an election.

The decision was 5-4, with Roberts, Scalia, Alito and Kennedy joined by Thomas in the majority.