High Court Decision May Bring ‘Cascade’ of Spending
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The U.S. Supreme Court decision striking down federal restrictions on corporate political spending may pump millions of dollars into the 2010 campaign from companies with stakes in congressional action.
Insurers affected by pending health-care legislation, such as Indianapolis-based Wellpoint Inc., and banks targeted by President Barack Obama’s proposal yesterday to curb risk taking, such as New York-based JPMorgan Chase & Co., are among entities now able to spend unlimited amounts to help elect or defeat federal candidates.