The Court this morning handed down its ruling in Citizens United v. FEC.
A preliminary skim: the ban on corporate "electioneering" (corporate funds for an independent expenditure, mentioning a candidate, within 30-60 days of an election) is struck down. Austin v. Michigan and part of McConnell overruled. Overruling Austin probably means that special limits on corporate speech are gone, in broad sense. This greatly undercuts the need for political action committees.
Court upholds a few requirements -- corp. must disclose significant donors to an independent expenditure, and the ad must disclose who is behind it.