Supreme Court Strikes Down ‘Millionaire’s Amendment’
WASHINGTON — The Supreme Court has struck down the “millionaire’s amendment” as an unfair way to help opponents of wealthy candidates who spend from their personal fortunes.
The law allows candidates to receive larger contributions when their wealthy opponents spend heavily from their personal fortunes.
The court says by a 5-4 vote that the law violates the First Amendment.
The law was challenged by Jack Davis, a New York Democrat who has so far spent nearly $4 million of his own money in two losing campaigns for Congress and says he will spend another $3 million this year.
Davis says the law unfairly rewards his opponents by allowing them to exceed campaign fundraising limits simply because Davis has chosen to dip into his personal funds.