Lobbying Bonanza in Washington
The Washington Post comments Massive Economic Packages Unleash Lobbying Bonanza in Washington.
Nearly 2,000 companies and organizations have lobbied Congress and the administration this year in an attempt to influence the contours of major new infrastructure spending, an effort that is sure to intensify now that the Senate is hoping to vote within days on their version of the $1 trillion public-works package.
The proposal — along with a still-forming second economic package valued at $3.5 trillion — carries high stakes for corporations that have long pined for infrastructure improvements and other federal spending that would be beneficial to their bottom lines.
The organizations working to shape the package — ranging from powerful trade associations representing agricultural and energy giants to small-time firms working for cities in Alabama and Kansas — mentioned either “infrastructure” or President Biden’s initial proposal, known as the American Jobs Plan, on their lobbying disclosure forms during the most recent quarter this year, according to an analysis from the Center for Responsive Politics, a nonprofit group that tracks money and influence in Washington.
Amazon, whose founder Jeff Bezos owns The Washington Post, spent nearly $10 million in the first six months of the year on a slew of lobbyists who worked on issues including “electric vehicle charging infrastructure” and “infrastructure investment legislation,” according to filings. The Global Infrastructure Investor Association, which represents financial firms like Goldman Sachs, Blackstone and Morgan Stanley, lobbied earlier this year on “public-private partnerships in financing state and federal infrastructure,” its disclosures show.
The RATE Coalition hired Forbes Tate Partners to lobby against corporate tax raises, a firm whose lobbyists include former aides to the Senate’s top tax-focused committee. The American Chemistry Council, which represents companies including 3M, Dow, Dupont and ExxonMobil, has taken particular aim at a portion of the infrastructure package that would raise the country’s so-called superfund tax.
Result: 2,701-Page Infrastructure Bill
As fruits of their efforts, the lobbyists produced a 2,701-page bill.
It’s important to understand that Congressmen do not write bills, lobbyists do. They are the only ones who understand what’s in those 2,701 pages.
On Fox News, Kudlow asked: How many Senators have read this bill?
Dirty Little Republican Secret
17 GOP Senators have signed on to this package making it a truly bipartisan boondoggle. The WSJ comments on the Republican support.
So why did 17 GOP senators vote to proceed? On the baser end of the scale, here’s the dirty little secret: The bill fundamentally amounts to a heap of spending, and some Republicans can spend with the best of Democrats. The member press releases are already flying, bragging about the pork they are directing back to their home states.
The Biden White House wants to remake America fundamentally in Bernie Sanders’s vision. This is the moment the GOP needs to be hammering away at the bad policy, the risks, and at the contrasts in governance. Which gets hard to do when Senate Republicans are whooping that Biden agenda along.
Musical Tribute
Long time readers knew from the top of this post that a musical tribute was coming. This one is a movie flashback.
Worst Bills Money Can Buy
In the end, Democrats and Republicans mostly feed from the same trough in the same smelly pigsty.
Lobbyists reap the Bonanza and taxpayers foot the bill.
On Thursday Senator Manchin Urged Fed to Immediately Taper to Halt Inflation and Avoid Tax Hikes
I suggest he (a Democrats), and all the Republicans take a look at the bills they are now prepared to sign.
After the obligatory review (has anyone even read it?) It’s Senator Manchin’s Patriotic Duty to Switch Parties to Stop the Insanity
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Mish
Tax cuts are by far the worst. All they do is to fund the buybacks of stocks and fuel the increase in stock prices, which in turn, makes houses unaffordable and makes the wealth inequality worse.