How Lobbying Became A 3.5 Billion Industry

PUBLISHED: Sat, 03 Oct 2020 16:00:04 GMT
Share

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. Watch the video above to understand how lobbying works, why it exists and how it became a powerful tool for businesses.

» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic

About CNBC: From ‘Wall Str…

Sign Up for Our Newsletter Daily Update
Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent.
Get this delivered to your inbox, and more info about about our products and services. By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy.