Tough times in the lobbying industry and the news is sure to be greeted with an outpouring of sympathy from across the land. As Kevin Bogardus and Megan R. Wilson of the Hill report:
Lobbyists say 2014 can’t be worse than 2013, when their revenue plunged as lawmakers battled through a government shutdown and punted on K Street cash cows like immigration and tax reform.
(Immigration a “cash cow.” Who knew?)
Just how bad are things. Well ...
In 2012, K Street reported taking in $3.31 billion in lobbying fees, down from the $3.33 billion firms earned in 2011, according to the Center for Responsive Politics. Fourth-quarter reports for 2013 won’t come in until next month, but firms have only pulled down $2.38 billion so far, and are not on pace to match last year’s lobbying revenue.
As one partner at Patton Boggs explained:
“[Lobbying revenue] was down for obvious reasons. There was virtually nothing to lobby because Congress passed few bills and there was the continuing hangover from the economy,”
So lobbying is made less lucrative by gridlock in Congress. Another point for gridlock.