Senate Finance Committee Chairman Ron Wyden, D-Ore., issued the following statement on Wednesday’s Supreme Court’s ruling on McCutcheon v. Federal Election Commission:

“Today, the Supreme Court delivered another massive blow to the nation’s already crumbling system of campaign finance laws. Unlimited corporate and individual spending is corrosive to democracy and undermines the political process.

"As we’ve already seen, the influx of unlimited outside political cash stemming from the Supreme Court’s Citizens United decision spawned a particularly vitriolic political cycle.

"It is time for thoughtful members of both parties to come together and develop new campaign finance laws that stave off corruption by ensuring comprehensive and immediate disclosure, and provide for transparency and fairness to all.," Wyden concluded.