Federal lobbying spending soared to over $1.2 billion in the first quarter of 2024, potentially setting a new record for the year. The top 166 clients accounted for nearly a third of this amount. Adjusted for inflation, this figure represents a 1.3% increase from the previous year.
The U.S. Chamber of Commerce led the pack with $23.4 million in lobbying expenditure, focusing on extending tax cuts. The National Association of Realtors followed closely behind, spending $14.9 million in response to evolving real estate commission rules.
Healthcare lobbying remained robust, with 1,966 clients advocating for various issues, including drug pricing reforms and supply chain improvements. The sector contributed $198.8 million in lobbying funds for the quarter.
Big Tech companies also intensified their lobbying efforts, with Meta spending a record $7.6 million and Alphabet directing $3.6 million towards influencing federal policy. Meanwhile, TikTok’s owner, ByteDance, doubled its lobbying spending compared to the previous year to navigate increased scrutiny and regulatory challenges.