{"id":1565630,"date":"2022-07-22T06:50:52","date_gmt":"2022-07-22T10:50:52","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1565630"},"modified":"2022-07-22T07:05:00","modified_gmt":"2022-07-22T11:05:00","slug":"as-americans-continue-to-suffer-one-industry-is-raking-in-massive-profits-dc-lobbyists","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/as-americans-continue-to-suffer-one-industry-is-raking-in-massive-profits-dc-lobbyists\/","title":{"rendered":"As Americans Continue to Suffer, One Industry is Raking in Massive Profits: DC Lobbyists"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fas-americans-continue-to-suffer-one-industry-is-raking-in-massive-profits-dc-lobbyists%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1565630&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/capitol-scaled-e1658443341789.jpeg\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p>Federal lobbyists have made huge profits in the second quarter of 2022, according to financial disclosures reviewed by Politico, while many Americans continue to feel the effects of inflation and the ongoing energy crisis.<\/p>\n<p>Of the top twenty lobbying firms by revenue, just two saw revenue decreases when compared with the first three months of the year, Politico <a href=\"https:\/\/www.politico.com\/newsletters\/politico-influence\/2022\/07\/21\/k-streets-boom-continues-00047255\">reported<\/a>. The lobbying boom was largely attributable to <a href=\"https:\/\/dailycaller.com\/2022\/07\/14\/joe-manchin-takes-blowtorch-to-dems-plans-more-spending\/\">reconciliation negotiations<\/a> between Democratic Sen. Joe Manchin of West Virginia and Senate Majority Leader Chuck Schumer of New York, as well hotly contested deliberations on whether to dole out <a href=\"https:\/\/dailycaller.com\/2022\/07\/20\/senate-advances-massive-subsidy-bill-semiconductor-industry\/\">subsidies to domestic semiconductor companies<\/a>.<\/p>\n<p>Firms leading the pack for lobbying revenues in the second quarter were Brownstein Hyatt Farber Schreck, Akin Gump Strauss Hauer &#038; Feld, and Holland &#038; Knight, reeling in $15.2 million, $12.8 million, and $10.7 million respectively, Politico reported. The largest individual contract, between semiconductor firm Qualcomm and Covington &#038; Burling, was worth $1.4 million.<\/p>\n<p>K Street\u2019s revenues come as the rest of the economy is facing <a href=\"https:\/\/dailycaller.com\/2022\/07\/13\/inflation-americans-cpi-squeeze-joe-biden\/\">decades-high inflation<\/a> and <a href=\"https:\/\/dailycaller.com\/2022\/07\/21\/wall-street-freaking-out-about-major-recession-indicator\/\">teetering on the edge of a recession<\/a>. The Consumer Price Index, a key gauge of inflation, soared to 9.1% in June, while the U.S. economy contracted in the first quarter of 2022 as Americans have been forced to <a href=\"https:\/\/dailycaller.com\/2022\/03\/16\/consumer-price-index-retail-spending\/\" target=\"_blank\" rel=\"noopener noreferrer\">spend less<\/a> on basic goods thanks to sky-high energy prices.<\/p>\n<p>The top spenders included the Chamber of Commerce, a trade organization representing U.S. businesses, and the National Association of Realtors, who spent $15.8 million and $14.8 million respectively, according to Politico.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">\u201cWe\u2019re in this space where we are performing well beyond what anyone should be doing.\u201d<\/p>\n<p>K Street cashes in as lobbying spending continues to hit staggering levels. <a href=\"https:\/\/t.co\/cTeAJw7FSc\">https:\/\/t.co\/cTeAJw7FSc<\/a><\/p>\n<p>\u2014 Justin Wise (@JustinFWise) <a href=\"https:\/\/twitter.com\/JustinFWise\/status\/1550127359600119810?ref_src=twsrc%5Etfw\">July 21, 2022<\/a> <\/p>\n<\/blockquote>\n<p>Analysts also expect the third quarter to be a productive one for the lobbying industry thanks to the midterm elections, and Democrats will likely try to get legislation passed while they still have control, leading to a flurry of lobbying activity, according to Politico. <strong><a href=\"https:\/\/dailycaller.com\/2022\/07\/15\/business-owners-already-seeing-recession\/\">(RELATED: \u2018A Definite Slowdown\u2019: Business Owners Say They\u2019re Already Seeing Signs Of A Recession\u201d)<\/a><\/strong><\/p>\n<p>\u201cWith changes of control possible in the House or Senate, clients are asking us how best to prepare for the possibility of competing agendas between Congress and the White House next year, while also being prepared for the possibility of renewed legislative activity if the Democrats maintain control,\u201d Michele Pearce, the co-chair of Covington &#038; Burling\u2019s public policy practice, told Politico.<\/p>\n<p>Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact <a href=\"mailto:licensing@dailycallernewsfoundation.org\">licensing@dailycallernewsfoundation.org<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8216;We\u2019re in this space where we are performing well beyond what anyone should be doing.&#8217;<\/p>\n","protected":false},"author":979,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1565630","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1565630","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/979"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1565630"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1565630\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1565630"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1565630"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1565630"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}