campaign finance reform

The Supreme Court: Getty Images PhotoLOUISVILLE -- Kentucky could be in for a spending bonanza in this year's U.S. Senate race after today's decision in the U.S. Supreme Court on a controversial campaign finance provision.

The "millionaire's amendment" is no more, after a 5-4 decision where the high court deemed that piece of the 2002 McCain-Feingold campaign finance reform package as unconstitutional.

The amendment previously allowed opponents of self-funding candidates to accept individual contributions beyond typical limits and benefit from increased party expenditures. In the majority opinion of the court released today, Associate Justice Samuel Alito called this provision "antithetical to the First Amendment."

The ruling will likely significantly affect Kentucky's U.S. Senate race, given the presence of a multi-millionaire on one side of the race more than willing to self-finance his bid.