The FEC issued this news release, which begins: “The Federal Election Commission (FEC/Commission) today approved a Notice of Proposed Rulemaking (NPRM) to implement the Supreme Court decision in Wisconsin Right to Life v. FEC (WRTL). The Court ruled that the specific ads in question were not the “functional equivalent of express advocacy” because they were “susceptible of a reasonable interpretation other than as an appeal to vote for or against a clearly identified Federal candidate.” Therefore, the Court determined, the ads in question were entitled to an exemption from the restriction on the use of corporate or union funds for electioneering communications.” The notice itself is here.
AP offers this report and Bob Bauer offers some first thoughts. (Update: See also here.) I have given this case some detailed consideration in this draft law review article and I hope to weigh in on the FEC notice some time before the comment period expires.