This article was originally published on Red, Blue & Real, the author’s Substack publication. The version below includes sources and further reading.
Two Doors for Money Into Politics
Money in politics is a classically American conflict. In 2010, business interests gained an entirely new level of legal power. The change was not simply more money. It was a different kind of money, operating under different rules, in quantities that made the previous system look small by comparison.
Two federal court rulings that year dismantled major parts of a century of campaign finance law. One allowed corporations to spend directly on elections. The other created the super PAC system — unlimited independent spending, unlimited contributions, no effective ceiling.
The results reshaped American politics. Outside groups spent roughly $4.5 billion in the 2024 election cycle.5 Super PACs alone raised more than $5 billion.5 Dark money — political spending that does not disclose its original source — reached record levels approaching $1.9 billion.8
Fifteen states have now developed a legal theory intended to close the corporate spending door. The super PAC door is another matter entirely.