Pharmaceutical and health products companies continued to dominate the lobbying space in the second quarter of 2025, spending $105.4 million to influence public policy. That industry has spent more on lobbying than any other, during every quarter but one, since 2010, according to Natalie Jonas' analysis of disclosure reports.

That total was down from the industry’s first-quarter total ($121.4 million) but still 38 percent more than the second biggest spender, the electronics industry.

The pharmaceutical industry spent $22 million more in the first half of 2025 ($226.8 million) than it spent in the same period of the prior year, as the Trump administration and Republican-led Congress pushed through the One Big Beautiful Bill Act, which will have a major impact on pharmaceutical companies.

Ballard Partners rose up the ranks to become the top lobbying firm of the second quarter, raking in $20 million. The firm, which is led by a top Trump fundraiser, earned $13.9 million in Q1 to lobby on mainly trade, government and health issues — jumping from the firm’s $4.3 million in Q1 of 2024. Both White House Chief of Staff Susie Wiles and Attorney General Pam Bondi worked for Ballard before joining the administration, although that relationship hit some speed bumps earlier this year.

The previous quarter’s top firm — Brownstein, Hyatt — remains among the most active, earning $18.5 million for lobbying in Q2. 

President Donald Trump’s White House press secretary has a money problem that won’t go away.

As spring turned to summer, Karoline Leavitt’s 2022 congressional campaign committee failed to pay off a penny of the $326,370.50 it owes across more than 100 creditors, Dave Levinthal discovered when reviewing a new disclosure filed with the Federal Election Commission.

Karoline for Congress raised no money during April, May or June to help retire the debt, the disclosure indicates.

The situation underscores how even the most high-profile political figures in the country sometimes leave their supporters and vendors high, dry and with little recourse if their campaigns hit financial shoals.

Much of the campaign’s debt stems from illegal and excessive contributions that it accepted several years ago but hasn’t returned to donors. Leavitt’s committee reported no cash on hand as of June 30 and long ago spent excessive contributions it accepted.

Dozens of individual donors are owed refunds, including former New Hampshire Gov. Craig Benson and former New Hampshire Senate Majority Leader Robert Clegg Jr., who died in 2023. 

Other creditors include campaign vendors, such as Missouri-based consultant Axiom Strategies ($46,747), Missouri-based polling firm Remington Research Group ($41,000) and Washington, D.C.-based fundraising firm Fundraising Inc. ($12,815).

In January, Leavitt’s congressional committee amended 17 campaign finance reports to account for previously unreported campaign contributions that exceeded federal limits, NOTUS reported at the time. In April, the Karoline for Congress committee did refund a handful of donors who had contributed more money than legally allowed, including Leavitt’s parents.

The OpenSecrets' 2024 Annual Report is now available. This report highlights the significant strides we made last year in promoting transparency in U.S. politics and empowering citizens with vital information, while experiencing record engagement.

In this report, you'll discover: 

An explosion of AI lobbying (Politico)

Longtime Republican faces primary fight and dark money is already flowing (Indiana Capital Chronicle)

AIPAC Gives Millions in PAC Donations to House Allies, Senators in 2026 Races (Sludge)

Big Donors Already Making Mark on New Jersey and Virginia’s 2025 Governors’ Elections (Brennan Center)

Karoline Leavitt’s Failed Campaign Owes More Than $300K (Daily Beast)

The news was reported first by Open Secrets, a non-profit that investigates campaign finance. Much of the debt is from donations that exceeded the limit set by campaign finance law during Leavitt’s run in New Hampshire at a House seat, according to Open Secrets.

Early Brief: The campaign (The Washington Post)

The money spent on this race could be staggering. In 2022, the race between then-Rep. Ted Budd and Cheri Beasley, the former chief justice of the North Carolina Supreme Court, cost a whopping $300 million, according to Open Secrets, the election spending watchdog. It is widely expected that the 2026 campaign will be more expensive.

Crypto’s Man in the White House (The New York Times)

The Fairshake network SuperPAC, an alliance of PACs created by members of the crypto industry, has emerged as a crucial Trump ally. In the 2023-24 election cycle, the Fairshake network became the dominant super PAC, spending $195.8 million, according to OpenSecrets.

Georgia Republican Mike Collins joins field seeking to challenge Democratic Sen. Jon Ossoff in 2026 (The Associated Press)

Ossoff raised $21 million in the first six months of this year and had $15.5 million in cash on June 30. But that's only the beginning. Ossoff and Warnock's twin Senate victories in 2021 cost more than $900 million combined, according to OpenSecrets, which tracks political spending. Warnock’s 2022 reelection over Republican Herschel Walker cost more than $470 million, OpenSecrets found.

Trump demands Kamala Harris, Beyoncé, Oprah be prosecuted over 2024 campaign payouts: ‘Totally illegal’ (New York Post)

Harris’ campaign amassed a mountain of political cash, including $1.15 billion in her campaign coffers and $843 million in outside support, according to Open Secrets. Trump, by contrast, had $464 million in his campaign and $989 million in outside money, per OpenSecrets.

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