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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.
Incumbent Democratic Senator Russ Feingold ran for re-election to a fourth term in 2010 but was defeated by Republican nominee Ron Johnson. Feingold hinted that he might seek a re-match with Johnson.In March 2013, Johnson announced that he was running for re-election and had begun fundraising.He had just $1,529 in his campaign account but he raised $16.1 million for the 2010 election, over half of which came from his personal fortune.eingold hinted that he might seek a re-match with Johnson. In March 2013, Johnson announced that he was running for re-election and had begun fundraising. He had just $1,529 in his campaign account but he raised $16.1 million for the 2010 election, over half of which came from his personal fortune.