 McCaffrey was born December 18, 1963 in Providence, Rhode Island.He earned his BA in accounting from Providence College and his JD from Suffolk University Law School.When District 16 incumbent Senator Joseph McGair left the Legislature and left the seat open, McCaffrey won the September 13, 1994 Democratic Primary and won the November 8, 1994 General election with 4,923 votes (57.6%) against Republican nominee Thomas Stone.