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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.
3 Main Provisions of the McCain-Feingold Act (2002) - Banned soft money contributions - Increased the amount that individuals could give to candidates from $1,000 to $2,000 and indexed the latter amount to rise in the future along with inflation