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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 Bipartisan Campaign Reform Act of 2002, nicknamed the McCain-Feingold Act after two of its Senate sponsors, sets limits on campaign financing available, restricts the types of political advertising aired prior to an election, and requires greater fiscal transparency for political donations.Other People Are Reading.he Bipartisan Campaign Reform Act of 2002, nicknamed the McCain-Feingold Act after two of its Senate sponsors, sets limits on campaign financing available, restricts the types of political advertising aired prior to an election, and requires greater fiscal transparency for political donations. Other People Are Reading.