"Today, the Supreme Court issued a ruling in Arizona Free Enterprise Club's Freedom Club PAC et al. v Bennett (also known as McComish v. Bennett)striking down key provisions of the Arizona Clean Elections Act (ACEA). The Act created tax-financed campaigns for those participating in the state-run program, and was challenged on the grounds that its 'matching funds' provision ultimately chilled free speech and was in violation of the First Amendment.
The ruling is consistent with similar Supreme Court rulings over the past several years. In 2008, the Court ruled in Davis v. FEC that 'leveling the playing field' for candidates did not justify asymmetrical contribution limits triggered by one candidate's spending their own funds in support of their campaign."
Supreme Court Strikes Down 'Matching Funds' Provision
Center for Competitive Politics: