For the third consecutive quarter, Brownstein Hyatt Faber Schreck topped the charts in Washington’s lobbying sector, pulling in a robust $15.1 million in federal lobbying revenue – a point of pause for corporate legal professionals looking to navigate the nation’s capital’s power corridors. The firm’s impressive client list includes primary players such as Apollo Global Management and Athene Holding, disclosed last Friday. Bloomberg Law highlights this latest development within an unusual political climate marked by the absence of a House speaker.
While just trailing Brownstein Hyatt, Akin Gump Strauss Hauer & Feld also had a strong quarter, posting a record $14.3 million in federal lobbying revenue. Notably, Holland & Knight saw a 10% year-on-year increase for the period of July through September, bringing in $12.5 million.
This upward trend in revenue comes amid unprecedented uncertainty in Washington, as House Republicans struggle to agree on a new speaker, and another government shutdown looms next month. The absence of a House speaker could potentially stall progress on key legislative agenda items including the government funding deal, national defense authorization, and farm bills, causing unwelcome uncertainty in such a crucial legal arena.
“There has been a lull,” observed Hunter Bates, Akin’s lobbying practice leader. However, Bates stressed the anticipation of a resolution has spiked, due to the pressing nature of high-priority issues presented before Congress. Lobbying and law firms are required by law to disclose lobbying receipts quarterly to Congress.
Despite the disarray in the House, recent corporate spending patterns may suggest that annual revenues in federal lobbying this year could match 2022’s record $4 billion. The legislation focused on climate change, infrastructure, and semiconductors has fueled this increase. For major law firms that typically cash in on mergers, acquisitions, bankruptcies, and litigation, lobbying has turned into a steady revenue generator.
The topsy-turvy dynamics demand shrewd navigation by lobbyists, as they aim to garner the attention of House staffers amidst the prevailing uncertainty. Firms like Squire Patton Boggs and K&L Gates have shown their resilience through their ability to navigate these complex dynamics, posting $5.4 million and $3.9 million respectively in federal lobbying revenue for the last quarter.
“Right now, everybody is just trying to plan for a lot of uncertainty,” summarised Karishma Page, a K&L Gates public policy partner. With the Capitol Hill landscape constantly changing, there’s no clear picture of who will become the next House speaker or if yet another government shutdown will occur. These pressing uncertainties serve as a pointed reminder to legal professionals of the importance of vigilance and agility amidst the roiling waves of the nation’s political sea.