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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.
- Contributions were unlimited until they were banned by the McCain-Feingold Act 527 Groups independent groups that seek to influence the political process but are not subject to contribution restrictions because they do not directly seek the election of particular candidates