The Penguin Review
Abstract
In the 2024 election cycle, just ten individuals contributed over $1 billion to Super PACs: more money than millions of ordinary Americans donated collectively.1 Reports described this select group as “an unelected shadow cabinet,” capable of reshaping entire campaigns from behind the scenes through rapid ad buys, targeted messaging, and electoral pressure. None of this would have been possible before 2010, when the Supreme Court’s Citizens United v. Federal Election Commission decision– combined with the D.C. Circuit’s ruling in SpeechNow.org v. FEC– dramatically dismantled long-standing campaign finance restrictions.2 3 These decisions opened the door for unlimited independent expenditures, giving rise to the Super PAC system that now dominates American political life.
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