Trump attacked lobbyists as a candidate. Then he hired one as chief of staff. Now corporations are rushing to hire her former firm Ballard Partners. They registered 41 clients since the election — 2x any other firm — including Chevron, crypto companies & payday lenders.
Key takeaways:
Despite campaigning against lobbyists, Trump staffed his administration with former Ballard Partners lobbyists, including Susan Wiles (Chief of Staff) and Pam Bondi (Attorney General), making Ballard the most influential lobbying firm in Washington.
Pam Bondi, a former Ballard lobbyist, is now Attorney General and is responsible for scrutinizing companies she previously represented, such as Uber, Amazon, and the private prison company GEO Group.
Chevron received $2 billion in tax savings from Trump’s 2017 tax cuts, and now it is lobbying to lower the corporate tax rate from 21% to 15%, which would cost taxpayers $48 billion a year while giving families less than $1 a day in savings.
After donating $135 million to Trump and crypto-friendly politicians, major crypto firms hired Ballard Partners. Trump is already supporting looser regulations and is considering a federal Bitcoin stockpile.
Trump’s proposed 60% tariffs on Chinese goods would increase toy prices by 56%, yet companies lobbying through Ballard have a higher chance of receiving exemptions, making tariffs an insider game.
Ballard clients, including payday lenders and the Invictus Collective (an investment advisor for ultra-wealthy families), are pushing to weaken the Consumer Financial Protection Bureau (CFPB), which has recovered $21 billion for consumers.
On Day 1 of a second term, Trump revoked a Biden executive order that banned officials from profiting from government service, accepting gifts from lobbyists, or lobbying immediately after leaving office.
While publicly claiming he fights "special interests," Trump has positioned corporate lobbyists at the heart of his administration, ensuring that Ballard Partners and its clients will shape U.S. policy for profit.
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