A sign for K Street in downtown Washington. Most lobbying firms are located along the thoroughfare. Credit: {a href="http://www.flickr.com/photos/the99percent/6473239917/"}@99inDC{/a}
A new analysis shows that former U.S. lawmakers who become lobbyists make more money, on average, than other Washington lobbyists.
Reuters reports:
A lobbying contract associated with a former congressman on the list costs on average $178,000 per client. That compares with $148,000 for a contract associated with a former congressional staff member and $108,000 for a contract with a lobbyist who has no past employment with Congress.
“Ex-members of Congress get a lot more money per client,” said Stephen Stesney of First Street Research Group, part of the publishing house CQ Press.
The analysis looked at 30 lobbyists, 10 of whom were former lawmakers, including former Senate Republican leader Trent Lott, with clients including Citigroup Inc and FedEx Corp, and former House Democratic leader Richard Gephardt, who lobbies for Visa and Anheuser-Busch, among others.
Read more:
Reuters: Ex-U.S. congressmen draw bigger lobbying fees: analysts
First Street 30: Top Federal Lobbyists Named to 2011 List
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