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McCain-Feingold Act

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McCain-Feingold Act
Legislation in the United States, passed in 2002, that changed the way that campaigns for federal political offices are financed. It banned soft money contributions, which were unregulated, usually large, contributions to the national party committees, instead of individual candidates. It also required political advertisements to state what person or group paid for them.


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The 2002 McCain-Feingold Act bars companies from spending their treasury funds on electioneering communications, a prohibition upheld by the court in 2003.
With Justice Sandra Day O'Connor in the majority, the court upheld the McCain-Feingold Act against a free-speech challenge by a 5-4 vote in 2003.
So when, early this week, The Wall Street Journal carried a report from the reformist group Public Citizen about the extent to which bundlers broke the spirit of our country's campaign-finance-reform law -- the McCain-Feingold Act -- it was a gauntlet dropped in front of the party in position to enact real reform.
 
 
 
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