First-quarter tax lobbying bonanza as reconciliation beckons

Lobbying activity regarding tax issues surged in the first quarter of this year, as Congress geared up to extend the 2017 tax cuts through a costly reconciliation package later in the year. Over 300 new lobbying registrations were recorded, a significant increase compared to the previous year. These filings included a wide range of sectors hiring lobbying firms to advocate on tax policy matters, as lawmakers search for ways to offset the expenses of the proposed tax package.

Various industries, such as higher education, professional sports leagues, investment management firms, and car manufacturers, were among those seeking representation on tax issues. Established entities like the Chamber of Commerce, National Association of Realtors, the Business Roundtable, and AARP were also active in lobbying efforts during the last quarter.

The potential costs of extending the 2017 tax cuts, coupled with the introduction of new tax cuts by President Trump, have spurred lawmakers to explore revenue-raising measures within the tax code. Potential offsets include revisiting clean energy credits, expanding taxes on university endowments, and adjusting tax treatments for investment fund managers and sports team owners.

Sectors like colleges and universities, credit unions, and the auto industry have intensified their lobbying efforts on tax-related matters. Notable players, including Amazon, General Motors, and Meta Platforms, have joined the chorus of voices advocating for specific tax breaks and incentives. Additionally, organizations like AARP have sought relief for seniors and caregivers through their lobbying activities.

The lobbying landscape continues to evolve as stakeholders navigate the complex tax policy discussions taking place in Congress, with various interests vying for attention and support on crucial tax-related issues.