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In a sweeping 5-4 decision, the U.S. Supreme Court has eliminated a well-established ban on political spending by corporations and unions, nullifying a series of campaign finance laws and overturning decades of legal precedent. Ruling that the campaign finance laws in question violate the First Amendment, the high court lifted both the corporate spending ban as well as the blackout period that stops groups from buying ads within 60 days of an election. Because the court’s action essentially reversed a prior case first argued in Michigan, the decision will likely be applied to federal and state elections. Obama has pledged to work closely with Congress to mitigate the effectiveness of the decision, possibly by backing efforts that would require shareholders to vote before a corporation could spend money in elections. The court’s split decision fell along political lines, with Justice Anthony Kennedy serving to break the tie and writing the majority opinion.

Many people are calling this a victory for big corporations and it will obviously have an effect on many industries, including promotional products, so…what say you about this landmark decision?