How Lobbying Became A $3.5 Billion Industry

Lobbying is a huge industry in the U.S. In 2019, around 12,000 registered professionals helped clients spend over $3.5 billion, which seems to pay off. According to one study, for every dollar spent on lobbying and campaign contributions, a corporation can receive up to $760 from the government. Still, lobbying is often criticized and public perception of the practice is low. Opponents say that the industry isn’t adequately regulated, and that the ability to influence policy is in the favor of those with unlimited financial resources. Supporters say that without their in-depth expertise, lawmakers wouldn’t be able to do their job effectively and efficiently.
CNBC News video.

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