To hold his Senate seat against his challenger, Beto O'Rourke, in 2018, Ted Cruz spent nearly $40 million. O'Rourke's campaign spent double that amount. The day before the vote in Texas, Cruz lent his campaign $260,000. This was a curious—and seemingly unnecessary—gesture: The campaign's final report showed it ended with $263,000 cash in hand. Yet Cruz was not acting irrationally. He was preparing the ground for a challenge of his own, an assault on the tottering remains of the McCain-Feingold campaign-finance law of 2002. That law, more formally known as the Bipartisan Campaign Reform Act, or BCRA, limited how campaigns could repay loans from candidates. A campaign has 20 days in which it can repay such loans in full. After that deadline, it can repay no more than $250,000. When Cruz's campaign finished repaying him, the deadline had elapsed. So his campaign committee settled only $250,000 of the loan, leaving $10,000 outstanding—which Cruz then sued in federal court to recover, arguing that the law's provision was a violation of his First Amendment rights. That set in motion more than three years of litigation with the Federal Election Commission that came to a conclusion in Monday's Supreme Court ruling . Cruz… Read full this story
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