McCain-Feingold

Definition

Officially known as the Bipartisan Campaign Reform Act of 2002, this law was designed to regulate the financing of political campaigns. It banned soft money contributions to national parties and limited campaign advertisements.

Related terms

Soft Money: Unregulated donations made to political parties for party-building activities, not directly advocating for a candidate's election or defeat.

Hard Money: Donations that are regulated by law through the Federal Election Commission. These funds must be reported and go directly towards advocating for a candidate's election or defeat.

Campaign Finance Reform: The political effort aimed at changing how money is involved in politics, specifically in electoral campaigns.