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January 28, 2021
This week in money-in-politics
Trump-tied lobbyists' revenues peaked in president's final year
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Lobbyists selling their connections to former President Donald Trump capped off a lucrative four-year run with their best year in 2020. After raking in millions from high-profile clients, these Washington influencers are already losing clients under President Joe Biden but could still benefit from Trump’s continued influence over the GOP.
Brian Ballard, chairman of Trump’s 2016 big-dollar fundraising apparatus and vice chairman of the Trump inaugural committee, made the most of his deep-rooted relationship with the president. A power player in Florida politics, Ballard didn’t lobby at the federal level until 2017, Trump’s first year in office. Since then, his firm raked in $71.4 million in lobbying revenue.
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** Biden adviser’s lobbyist brother cashes in after Biden win
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A Washington lobbyist whose brother serves as a top adviser to President Joe Biden had his best quarter in over a decade as Biden prepared to take over the White House. Jeff Ricchetti, brother of White House counselor and longtime Biden ally Steve Ricchetti, brought in $610,000 in lobbying revenue from October through December, according to newly released lobbying filings. His firm had its best quarter since 2009, attracting numerous pharmaceutical companies and picking up new clients after Biden secured the presidency.
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** Lobbying spending nears record high in 2020 amid pandemic
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Lobbying spending remained steady in 2020 amid partisan gridlock, a tumultuous election and the devastating COVID-19 pandemic. Lobbying spending nearly reached $3.5 billion in 2020, according to OpenSecrets’ review of lobbying filings, just falling short of 2019’s record total. The final year of former President Donald Trump’s term capped three straight years of relatively high lobbying spending, a departure from the final years of the Obama administration.
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** Trump-tied lobbyists paid massive sums to push pardons
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Washington lobbyists with close ties to outgoing President Donald Trump were paid lucrative sums by clients angling for last-minute pardons from the president. Matthew Schlapp, chairman of the American Conservative Union and a close Trump ally, brought in the largest haul. According to a new lobbying filing, Schlapp was paid a whopping $750,000 since mid-December to lobby Trump to pardon Parker Petit, a top Republican donor who served as Georgia finance chairman for Trump’s 2016 campaign. Petit was convicted of securities fraud in November.
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NRA bankruptcy follows years of declining political spending
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The nation’s most powerful gun rights group filed for Chapter 11 bankruptcy on Jan. 15, seeking to restructure in Texas and avoid legal action in New York.
New York’s attorney general began investigating the National Rifle Association on corruption charges in 2019 and moved to dissolve its 501(c)(4) nonprofit in 2020.
Plagued by financial challenges and mounting legal issues, the NRA’s political spending has declined significantly in recent years. The group was once among the most influential outside forces in electoral spending.
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Shell companies and ‘dark money’ may hide details of Trump ties to DC protests
Former President Donald Trump’s presidential campaign aides played key roles in orchestrating a rally protesting certification of President-elect Joe Biden‘s victory in the 2020 presidential election before hundreds of rioters breached the U.S. Capitol on Jan. 6.
But the full extent of the Trump campaign’s ties to the protests may not be not fully known due to its use of shell companies that hide details of its financial dealings and the central role “dark money” played in the protests.
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OpenSecrets in the News
See our media citations from outlets around the nation this week:
* ** Biden Team Promises New Look in Trade Policy (The Wall Street Journal) ([link removed])
The ‘worker-centered’ policy being pushed by the new administration means less focus on opening markets for banks and drug makers. The industries that the Biden team would de-emphasize also have the lobbying muscle to fight back.
* ** As Biden enters White House, some allies, former staffers thrive as lobbyists (ABC News) ([link removed])
Some of President Joe Biden's former staffers and allies, and those close to them outside the White House, are cashing in as corporate and private interests look to exert their influence over the new administration.
* ** How to avoid funding treason (Top 1000 Funds) ([link removed])
Following the events of January 6th, asset owners now face the uncomfortable prospect that companies they invest in or work with could be funding extremist groups, with some actively engaged in sedition.
** The Associated Press ([link removed])
** Fox News ([link removed])
** CNN ([link removed])
** Politico ([link removed])
** CNBC ([link removed])
** Axios ([link removed])
** Time ([link removed])
** Ms. Magazine ([link removed])
** MinnPost ([link removed])
** Twin Cities Business Magazine ([link removed])
** The Helena Independent Record ([link removed])
** Newsweek ([link removed])
** HuffPost ([link removed])
** Business Insider ([link removed])
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4 star rating for 8 consecutive years
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