Twenty years ago when Congress passed the bipartisan McCain-Feingold bill on campaign finance reform , many celebrated what they hoped would be a new era in US politics. There were limits set for individual contributions and those of political action committees. All contributions in federal elections were to be reported to the Federal Election Commission and made available for public scrutiny. There was also a taxpayer fund established that would allow presidential candidates, if they wished, to secure matching funds for lower-level contributions to their campaigns, if they accepted a limit on their overall spending.