This morning the Supreme Court essentially opened the door for corporations and unions to spend freely on political races with its long-awaited ruling in Citizens United v. Federal Election Commission.

We’re reading the Court’s decision now—here it is in PDF—and will post more news and reactions as we get them.

The cover story from the January issue of Politics, written by Jeremy P. Jacobs, is an extensive look at the state of campaign finance legislation and what its apparent gutting means for the future of campaigning.

It is a must read for anyone who raises—or spends—money in the political world.

Click here to read The Passion of McCain-Feingold.

Click here for the entire January issue of Politics.