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May 1, 2020
This week in money-in-politics
 
Coronavirus stimulus spurs near-record first-quarter lobbying spending
 
 

Lobbying spending spiked to near-record levels from January through March as powerful companies, trade groups and other clients rushed to influence the government’s response to COVID-19, particularly its $2.2 trillion stimulus bill.

Federal lobbying spending totaled $903 million in the first quarter of 2020. More than 1,500 lobbying clients specifically reported attempting to influence the CARES Act, making it the second most-lobbied bill on record.  

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Members of Congress owe millions in student loans


Congress threw a lifeline to student loan borrowers in the heavily lobbied $2.2 trillion stimulus bill by pausing payments on most federal loans. Now lawmakers want to do more to help borrowers who were already struggling to make payments before the coronavirus pandemic left millions unemployed.
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Trump-tied lobbying firm flourishes as businesses push for coronavirus relief 


As companies scramble to get access to the federal government amid the coronavirus outbreak, lobbying firm Ballard Partners raked in record revenues in this year’s first quarter. Ballard Partners received over $5.2 million from January through March, earning the seventh-highest revenue of all lobbying firms. 
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GOP challengers outraised in race to unseat sole Utah Democrat in Congress 


Freshman Rep. Ben McAdams’ (D-Utah) reelection campaign is one of the many closely contested House races in November. A group of four GOP challengers must first battle among themselves to slim down the crowded field of competitors while McAdams continues to outraise them by millions.
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Congress invests big in pharmaceutical, tech stocks 
 
 

Congress is tasked with regulating the most powerful and influential industries in the private sector. But lawmakers could lose massive chunks of their personal wealth if their legislation hurts those companies’ bottom lines.  

In the most recent financial disclosures filed last year, lawmakers reported holding tens of millions of dollars in tech and pharmaceutical stocks. Congress continued to invest in these companies even as it debated how to deal with rising drug prices and tech giants’ intrusions of privacy. 

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OpenSecrets in the News

See where we've been cited by media outlets around the nation this week:  

The Guardian 
ProPublica
Bloomberg
Sludge
The National Memo
OC Media
Arkansas Times
The Gazette
Maryland Matters
Norwood News
WHMI-FM

 

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