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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 was back in the headlines in the spring of 2001, when the Senate debated and eventually passed, by a vote of 59-41, a broad overhaul of the campaign finance system. The bill was the fruit of McCainâs six-year effort, with Democratic Senator Russell D. Feingold of Wisconsin to reform the system.