Money & Politics News

Lobbyists and employees from the top 144 lobbying firms in the country could have given 58 percent more to candidates and parties had the McCain-Feingold campaign finance bill been law during the last election cycle, according to a report released today by U.S. PIRG. The analysis found that lobbyists from the largest firms gave $24 million in political contributions in 1999-2000, with $22.2 million, or 92 percent, coming in limited "hard money" contributions to candidates, PACs, and parties.

"If the McCain-Feingold bill becomes law, lobbyists will get the last laugh," said U.S. PIRG Democracy Advocate Julia Hutchins. "The bill claims to limit special interest influence in politics, yet it will allow K Street lobbyists to give twice as much money to politicians. The increased contribution limits in the bill are a political boon for lobbyists and other large hard money donors," she continued.

The U.S. PIRG report ranks the top lobbying firms in order of political contributions given in the last election cycle. At the top of the list is Ernst & Young, whose clients include Edison Electric, Marriott, Philips Petroleum, and other large corporations. Lobbyists and employees from Ernst & Young gave more than $2 million in political contributions in the last election cycle; 98 percent of which was in hard money contributions. Three firms gave more than a $1 million and 72 gave more than $100,000, according to the U.S. PIRG analysis.

"This study exposes how lobbying firms use the current hard money system for political gain, and should raise a red flag for legislators considering proposals that increase the limits on hard money contributions like the McCain-Feingold bill," said Hutchins.

U.S. PIRG calls on the House reformers to remove all hard money increases from the Shays-Meehan bill during debate. "Legislation that regulates soft money contributions to parties without increasing hard money contribution limits would be a good first step towards reform," concluded Hutchins.

* Rank is based on 1999 income, as reported by the Center for Responsive Politics on May 31, 2000.