Bush signs McCain-Feingold, banning unlimited unregulated donations to national party campaigns

President George W. Bush signed the Bipartisan Campaign Reform Act of 2002, commonly called McCain-Feingold, banning unlimited soft money donations to national political party committees. The law also prohibited corporations and unions from running electioneering communications within 60 days of a general election or 30 days of a primary. Senator John McCain and Senator Russ Feingold had championed the bill for six years after the Keating Five savings-and-loan scandal exposed how large donors purchased political access.