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The Supreme Court case Buckley v. Valeo (1976) significantly impacted campaign finance reform by ruling that limits on individual contributions to political campaigns were constitutional, but restrictions on independent expenditures by individuals and groups violated free speech protections under the First Amendment. This decision allowed for greater financial contributions from individuals and organizations, leading to the rise of Super PACs and increased spending in elections. Ultimately, Buckley v. Valeo shaped the landscape of campaign finance, reinforcing the idea that money is a form of speech.

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