Most of the top lobbying firms raked in record revenue last year as K Street worked overtime to influence President Biden’s ambitious agenda, according to new lobbying figures shared with The Hill.
Lobbying spending had already reached record highs in 2020 after Congress authorized trillions of dollars in new spending to fight the pandemic. But Democrats’ takeover of Congress and the White House helped further propel the influence industry to new heights.
The nation’s largest companies and their trade associations turned to lobbying firms with close ties to congressional leaders and administration officials to fight Democratic proposals to reshape key industries and crack down on corporate consolidation.
The leading K Street firms benefited from an influx of first-time clients such as cities seeking federal infrastructure funding, pandemic-hit companies pushing for COVID-19 relief and emerging industries like cryptocurrency and green energy, in addition to increased lobbying spending from powerful corporations.