TARP Recipients Paid Out $114 Million for Politicking Last Year
The companies that have been awarded taxpayers’ money from Congress’s bailout bill spent $77 million on lobbying and $37 million on federal campaign contributions, Center finds. The return on investment: 258,449 percent.
WASHINGTON–(This release has been corrected to reflect that Bank of America has received $45 billion, not $55 billion, from the TARP program. The [...]
Washington Lobbying Grew to $3.2 Billion Last Year, Despite Economy
Interest groups spent $17.4 million for every day Congress was in session. Lobbying growth for finance sector and auto industry is smaller in tough times.
WASHINGTON–While companies across the board were losing record amounts of money and laying off employees last year, at least one industry seemed to weather the recession: lobbying. Special interests paid Washington lobbyists [...]
Wealthy Freshmen Increase Congressional Net Worth
New members of Congress are worth $1 million more than the average incumbent, Center finds. As they make decisions about the economy, freshmen and incumbents are heavily invested in the struggling financial sector.
WASHINGTON–The new crop of lawmakers that Americans tasked in November with shoring up the ailing economy are wealthier than the group that was [...]