Political, not commercial. All politicians lie or are "economical with the truth". If you want to get the courts involved in judging political statements, especially in a country that has already politicised the courts to a greater extent than many other Western countries, then you're on a hiding to nothing.

But the money that funds PACs can come from commercial activities. If all a company has to do is create a PAC, and PACs don't need to be truthful, it seems to me commercial speech is protected.

Commercial speech is not defined by its funding or by whether it's said by a PAC, but by whether it "proposes a commercial transaction."

https://en.wikipedia.org/wiki/Commercial_speech