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Yo_Mama_Been_Loggin

(107,104 posts)
Wed Jan 24, 2018, 03:56 PM Jan 2018

Tax law showers cash on lobby firms

Tax reform was very good to K Street.

The successful Republican drive to overhaul the tax code, which consumed much of the legislative agenda in 2017, resulted in a bonanza of business for Washington’s law and lobby firms.

Bolstered by GOP control of Washington, lobbyists saw their business grow almost across the board last year. The quest to pass tax legislation — a bill affecting every industry — was a big reason why.

“The biggest driver of activity in 2017 was the fact that you had a Republican White House and a GOP Congress seeking to take policy in a 180-degree different direction,” said Hunter Bates, a former chief of staff to Senate Majority Leader Mitch McConnell (R-Ky.) who is now at Akin Gump Strauss Hauer & Feld. “Tax reform and regulatory reform are the two areas where that change in direction was most pronounced. ”The 20 largest lobbying firms took in a total of $368 million in lobbying revenue last year, a 15 percent increase over 2016, according to numbers compiled by The Hill. Individual firms saw increases in revenue ranging from modest amounts to the addition of several million extra dollars.

http://thehill.com/business-a-lobbying/business-a-lobbying/370405-tax-law-showers-cash-on-lobby-firms

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