Nonsense.
The constitution gives the Congress the right to regulate elections to federal office. See Article I Section 4. Such a law as this is part of the "manner of holding elections" which are "prescribed in each state by the Legislature thereof; but the Congress may at any time by Law make or alter such Regulations, except as to the Places of chusing Senators."
Campaign finance laws have been on the books for at least 30 yrs and the Court has upheld them for the most part. This is nothing new and was a foregone conclusion.
See Article I Section 4. Such a law as this is part of the "manner of holding elections" which are "prescribed in each state by the Legislature thereof; but the Congress may at any time by Law make or alter such Regulations, except as to the Places of chusing Senators." Yes they can regulate the manner of holding elections. But they can't do so in such a way that it abriges the freedom of speach, or of the press, or the right of the people to peaceably assemble. I think the law does all of those things.
The first amendment, being an amendment, overules the powers of Congress granted in the main body of the Constitution.
The Bill of Rights died this month, after an extended illness. First the nine in black declined to even rule on a law which grossly infringed upon a fundamental right protected therein, and now they rule in direct opposition to another provision.