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by Kathy Gill. Updated May 03, 2017. The McCain-Feingold Act is one of the several federal laws that regulates the financing of political campaigns. It is named after its chief sponsors, Republican U.S. Sen. John McCain of Arizona and Democratic U.S. Sen. Russell Feingold of Wisconsin.
The relationship between big money and political success shows no signs of abating despite the McCain Feingold legislation. The limited public financing system for Presidential contests is ineffectual as both major party candidates have opted out of the system for the primaries and the general election.