20 CITIZENS UNITED v. FEDERAL ELECTION COMM’N Opinion of STEVENS, J. sion would dislodge settled rights and expectations or require an extensive legislative response.’ ” Hubbard v. United States, 514 U. S. 695, 714 (1995) (quoting Hilton v. South Carolina Public Railways Comm’n, 502 U. S. 197, 202 (1991)). Stare decisis protects not only personal rights involving property or contract but also the ability of the elected branches to shape their laws in an effective and coherent fashion. Today’s decision takes away a power that we have long permitted these branches to exercise. State legislatures have relied on their authority to regu­ late corporate electioneering, confirmed in Austin, for more than a century.20 The Federal Congress has relied on this authority for a comparable stretch of time, and it specifically relied on Austin throughout the years it spent developing and debating BCRA. The total record it com­ piled was 100,000 pages long.21 Pulling out the rug be­ neath Congress after affirming the constitutionality of §203 six years ago shows great disrespect for a coequal branch. By removing one of its central components, today’s ruling makes a hash out of BCRA’s “delicate and intercon­ nected regulatory scheme.” McConnell, 540 U. S., at 172. Consider just one example of the distortions that will follow: Political parties are barred under BCRA from soliciting or spending “soft money,” funds that are not subject to the statute’s disclosure requirements or its source and amount limitations. 2 U. S. C. §441i; McCon nell, 540 U. S., at 122–126. Going forward, corporations and unions will be free to spend as much general treasury money as they wish on ads that support or attack specific —————— 20 See Brief for State of Montana et al. as Amici Curiae 5–13; see also Supp. Brief for Senator John McCain et al. as Amici Curiae 1a–8a (listing 24 States that presently limit or prohibit independent election­ eering expenditures from corporate general treasuries). 21 Magleby, The Importance of the Record in McConnell v. FEC, 3 Election L. J. 285 (2004).

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