Tracking lobbying costs can reveal your company’s true focus
Graphic from OpenSecrets.org
Keith Epstein of the Huffington Post Investigative Fund writes about how the payday lending industry has used lobbyists and campaign contributions to fight proposed federal and state regulations against it.
Epstein writes:
“To convey their message, payday lenders have hired some of the lobbying industry’s top guns. Trade groups have financed studies to underscore the small profit margin on each loan. The groups also have created a database of more than a half-million customers who can be quickly mobilized to persuade specific politicians.”
Today’s Tip: Check companies on your beats to see how much they and their industries are spending to increase their legislative voices.
OpenSecrets.org by the Center for Responsive Politics provides a search tool that allows you to search for specific companies. For instance, in my health care coverage days, I frequently wrote about Aurora HealthCare.
A quick search of the company data showed me lobbying expenditures dropped by more than half from 2008 to 2009. I can also see the specific issues the company addressed. The data could generate several story ideas including looking into the sharp decline after several years of increases.
As noted in Epstein’s story, the Sunlight Foundation tracks contributions. Its Party Time blog shows social events where politicians appear to raise money. Finally, the National Institute on Money in State Politics tracks contributions given for statewide elections and candidates.
