raisinman asked
Critics of the current campaign finance system fear that the growing amount of money pouring into elections is having a corrupting influence on politics. The more money that is involved in running for office, critics say, the more influence that donors – wealthy individuals, companies, labor unions, interest groups – have over elected officials and public policy. These concerns gave rise to several campaign finance bills, the most prominent of which was the McCain-Feingold bill – named for its primary sponsors, Sens. John McCain (R-Ariz.) and Russell Feingold (D-Wis.) – which would reform the campaign finance system and seek to reduce the influence of money in the electoral process. The crux of the McCain-Feingold bill was a ban on soft money -- unlimited contributions to the national political parties for 'party-building' activities. The bill also placed restrictions on outside groups airing so-called 'issue ads' that tout or criticize a candidate's position on an issue, but refrain from explicitly telling viewers to vote for or against that candidate. After vigorous debate in the House and Senate, Congress passed the McCain-Feingold bill. President Bush signed the bill into law in March 2002, and the U.S. Supreme Court upheld the law's major provisions in a December 2003 decision..
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