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The Bipartisan Campaign Reform Act of 2002 regulates the finance granted for political campaigns. The Act is commonly known as the McCain–Feingold Act. The object of the Act is to restrict the use of soft money for federal elections. Main features of the Act include:
1. prohibition on national parties from raising or spending nonfederal funds;
2. requiring the states, district and local party committees to fund certain federal election activities with federal funds; and
3. for limiting fundraising by federal and nonfederal candidates and officeholders on behalf of party committees, other candidates, and nonprofit organizations.
The Act amended the Federal Election Campaign Act of 1971.