18 (“We have witnessed merely the second scene of Act I of what promises to be a lengthy tragedy.”); id. at 264 (Thomas, J., dissenting) (“[T]he Court today upholds what can only be described as the most significant abridgment of the freedoms of speech and association since the Civil War.”); id. at 294 (Kennedy, J., dissenting) (“This new definition of corruption sweeps away all protections for speech that lie in its path.”); id. at 357 (Rehnquist, C.J., dissenting) (“Today’s decision, by not requiring tailored restrictions, has significantly reduced the protection for political speech having little or nothing to do with corruption or the appearance of corruption.”); see also Richard Briffault, The 527 Problem . . . and the Buckley Problem, 73 GEO. WASH. L. REV. 949, 970 (2005) (“McConnell, however, transformed the constitutional landscape.”). In both holding and discussion, the McConnell Court sided with the censor, going so far as to rely on theoretical anticipation to uphold a speech restriction, see 540 U.S. at 185 (upholding BCRA § 323(f), which forbids state and local officeholders and candidates from using soft money to support or attack federal candidates, based on the “eminently reasonable prediction that . . . state and local candidates and officeholders will become the next conduits for the softmoney funding of sham issue advertising”), and ending with an invitation for even more congressional action, id. at 224 (“We are under no illusion that BCRA will be the last congressional statement on the matter.”). This is not the modus operandi of a tentative tribunal; the Court knew what it was doing, and said so. After McConnell, if these regulations are within the FEC’s statutory power, then there is no obvious reason they facially violate the First Amendment.12 12 This a facial challenge. For such claims, “exercising judicial restraint . . . frees the Court not only from unnecessary

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