What key ruling did Buckley v. Valeo (1976) establish regarding campaign spending?

The ruling in Buckley v. Valeo (1976) established that individuals have the right to spend unlimited amounts of their own money on political campaigns. This decision stemmed from the Supreme Court's interpretation of the First Amendment, which protects freedom of speech. The court concluded that spending money to influence elections is a form of protected free speech, thus allowing candidates to use their personal resources without government-imposed limits. This ruling significantly altered the landscape of campaign finance by distinguishing between individual contributions to campaigns (which can be limited) and an individual's personal spending on their own campaign (which cannot be limited).