Buckley v. Valeo (1976)
The Supreme Court reviewed the same 1974 campaign finance law. It upheld limits on direct contributions but struck down limits on independent spending, ruling that money spent on political speech gets First Amendment protection.
The decision split the law in two: contributions could be capped, but a person's own independent spending could not.
It set the framework every later campaign finance case has argued over, including this one.
The 2026 ruling extends Buckley's logic to party spending, treating coordinated party money as protected speech rather than a contribution that can be limited.
