[[link removed]] August 30, 2024
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Record-breaking federal lobbying tops $2.2 billion in first half of 2024
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Interest groups spent a staggering $2.2 billion lobbying the federal government during the first half of 2024.
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Chart of the Week
Dive deeper into the data behind the headlines
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What to Know
Federal lobbying spending topped $2.2 billion in the first half of 2024, putting the year on track for another nominal record.
This flood of money puts the year on track to set a new nominal record for federal lobbying expenditures, with even more spending expected as Congress scrambles to pass crucial appropriations bills to keep the government running.
By the Numbers
The U.S. Chamber of Commerce spent over $38.2 million on lobbying during the first half of 2024, making it the top lobbying spender during that time. The National Association of Realtors was the second biggest lobbying spender of the first half of the year with $31.4 million paid to federal lobbyists during the first two quarters.
The Pharmaceutical Care Management Association spent nearly $8.4 million on federal lobbying in the first half of this year, putting 2024 on track for another year of record spending. But the PBM trade group’s lobbying was dwarfed by the $16.9 million spent by the Pharmaceutical Research & Manufacturers of America as the trade groups fought over drug pricing reforms.
The tech industry also continued to invest heavily in lobbying, with multiple Big Tech companies outpacing their spending during the same period last year.
Dig Deeper
As has become typical in recent years, appropriations and budget issues dominated lobbying efforts. With federal financing set to expire on September 30, just weeks after Congress returns from its summer recess, the pressure is on to secure a funding deal in order to avoid a government shutdown.
If lawmakers fail to reach an agreement on a full-year budget and secure approval from the White House by the end of September, a stopgap measure will be essential to keep government operations afloat while negotiations continue. Failing to pass a new appropriations bill or a stopgap measure could result in the shutdown of significant portions of the government.
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OpenSecrets in the News
See our media citations from outlets around the nation this week:
Crypto industry accounts for almost half of corporate donations in 2024 election, report says ( CNBC ) [[link removed]]
Data compiled from FEC reports by OpenSecrets indicates that Fairshake has nearly $120 million in its coffers to deploy with less than 80 days to go until the November election. The super PAC has pledged $25 million from that pool of cash to 18 House candidates in the general election, to be split among nine Democrats and nine Republicans. It’s committed another $18 million to three Senate races.
How Exxon chases billions in US subsidies for a ‘climate solution’ that helps it drill more oil ( The Guardian ) [[link removed]]
According to lobbying disclosures analyzed for the Guardian by OpenSecrets, a non-profit tracking money in politics, the oil giant has spent $54m on lobbying since 2018, with over a hundred separate lobbying efforts on CCS, hydrogen, EOR or other related issues by registered lobbyists since 2021. Exxon has also spent $8.3m in federal campaign contributions since 2018, with about a third going to Democrats.
The Billionaires Behind Trump and Harris’ Campaigns—and What They Want ( MarketWatch ) [[link removed]]
Campaigns this election season have raised roughly $7.2 billion, with the top 100 donors pitching in $1.2 billion, according to campaign-finance tracker OpenSecrets. The contest between Vice President Kamala Harris and former President Donald Trump—and the hundreds of down-ballot races in Congress—is on track to be one of the most expensive campaigns ever. It is being increasingly bankrolled by a handful of billionaires and some hundred millionaires seeking to bend the U.S. and the regulations that govern it to their will.
Watchdog raises alarm about politically connected Ohio coal plant [[link removed]]
Florida Insurance Companies Donated Over $500K to Republicans in Last Year [[link removed]]
Democracy Organizations Are the New Backbone of Election Reporting [[link removed]]
As RFK Jr. backs Trump, here's the secretive billionaire plutocrat funding them both [[link removed]]
Waste of the Day: House Republicans Bill More Than Democrats on Travel [[link removed]]
Fact Check: No, Harris Campaign Didn't Receive Donations From 4 US Federal Agencies [[link removed]]
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We're Coming to New York
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We invite you to attend two very worthwhile conversations next month. Hilary Braseth will be speaking September 19 at the Principled Business Summit [[link removed]] . Register now with code PRINCIPLED40 and save 40%. She will also be speaking September 26-27 at the Transformative Impact Summit [[link removed]] . Registration is open, use code MOVEMENT20 to save 20%.
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