Is it an exaggeration to say that a case being argued at the U.S. Supreme Court today could be the Miranda ruling of campaign finance?

Well, maybe. But in terms of Arizona facts that contribute to national law, today’s arguments pack a wallop.

The oral argument is in regard to the matching-funds provision of Arizona’s clean elections statute, and it involves two consolidated cases: McComish v. Bennett and Arizona Free Enterprise Club’s Freedom Club PAC v. Bennett.

The Court is scheduled to hear oral arguments this morning to reverse a decision of the Ninth Circuit Court of Appeals that upheld matching funds.

Here is a good analysis of the case’s importance.

And here is a local story, which includes a lawyerly tale of how people agree on who gets the privilege of arguing to the high Court. Once the Court opted to disallow a time-split between appellants Institute for Justice and the Goldwater Institute, how could the eager lawyers come to agreement on which would speak? It came down to a coin toss.

Finally, the Goldwater Institute has posted online all of the case filings. You can read the merits brief and the reply brief (and a whole lot more) here. And the Court’s own docket, including the Questions Presented, is here.