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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.
McCain-Feingold Act McCain lost the republican primary because George Bush outspent him, McCain created the bill in 2002 to eliminate soft money campaign finance to avoid that happening again, act said no more soft money from parties, upheld by the supreme court. also restricted hard money contributions to 2000 per candidate, including to self, up to 95000 per 2 years]