Final answer:
The Bipartisan Campaign Reform Act (BCRA) was passed in 2002 with the goal of limiting the use of soft money in campaign financing. It imposed limits on political party funding, prohibited coordination between candidates and PACs, and placed restrictions on advertisements by unions and corporations. As a result, the BCRA decreased both funding and spending in campaign finance.
Step-by-step explanation:
The Bipartisan Campaign Reform Act (BCRA) was passed in 2002 with the goal of limiting the use of soft money in campaign financing. Soft money refers to funds raised for party-building efforts, get-out-the-vote efforts, and issue-advocacy ads, and it was previously largely unregulated. The BCRA greatly restricted the use of soft money, which had been skyrocketing since the mid-1990s. The Act imposed limits on political party funding and prohibited coordination between candidates and political action committees (PACs). It also placed restrictions on advertisements run by unions and corporations before elections. Overall, the BCRA decreased both funding and spending in campaign finance.