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In recent years, corporate lobbying has grown into a key component of the political environment in the United States, with companies investing heavily to influence government policy. This practice involves direct engagement with legislators and financial contributions, aiming to promote company interests through policy changes.

The rise in corporate lobbying spend is indicative of the increasing awareness among businesses of the profound effect government policies can have on their operations and market success. In 2022, total federal lobbying expenditures hit $4.1 billion, marking the highest amount since 2010.

As of November 20, 2023, the data reveals the leading U.S. companies in terms of lobbying expenditure.

Leading the Lobbying Expenditure in 2023

The top spenders in the 2023 lobbying scene are predominantly tech giants, with Meta Platforms and Amazon leading the charge. As reported by Quiver Quantitative on November 18, Meta and Amazon have spent approximately $15 million and $13 million respectively so far this year.

Following closely are Boeing, Lockheed Martin, and General Motors, each dedicating over $10 million to their lobbying efforts this year.

The list of top 10 corporate lobbying spenders also includes CVS Health, Pfizer, Alphabet (Google’s parent company), General Dynamics, and Verizon.

Call for Increased Transparency in Corporate Lobbying

The increase in corporate lobbying has not gone unnoticed by lawmakers. Last week, a group of Democratic Senators from the Senate Banking Committee called on the Securities and Exchange Commission (SEC) to mandate more comprehensive disclosure from companies regarding their lobbying activities. They urged the SEC to create a rule requiring registered companies to disclose their lobbying strategies, the total amount spent on lobbyists, and any significant risks associated with their lobbying activities and expenditures.

The Senators have given the SEC a deadline of November 29 to respond with details about their plan to implement this rule.

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