Campaign-finance experts say the Supreme Court has given indications that it may not settle for simply striking down the narrow provision at issue. Rather, it may rule more broadly, declaring unconstitutional all efforts to ban corporations and unions from financing political ads through their general treasuries.
Such a ruling would gut campaign-finance laws, and present advocates of regulation with a major challenge in limiting the flow of corporate money into campaigns.
Sen. Russ Feingold (D-WI) has said such a ruling would take the country "not just back to a pre-McCain-Feingold era, but back to the era of the robber barons in the 19th century."
We may know whether that's going to happen in the next half hour. We'll keep you posted.
Late Update: Well, that was quick. The court has said it won't rule on the case today, SCOTUSblog reports. Our campaign-finance laws live to fight another day.