K Street is playing an increasingly central role in the 2012 presidential race, as hundreds of lobbyists representing some of the world’s largest corporations and trade groups pour money into Republican coffers.
The main beneficiary so far is Mitt Romney, the former Massachusetts governor and equity-fund executive, who is banking on strong support from the business community to propel his White House bid.
Lobbyist donors
More than 100 registered lobbyists have contributed to Romney, giving nearly $200,000 in direct donations, according to a Washington Post analysis of donor and lobbying records. A team of lobbyist fundraisers has also bundled together nearly $1 million in contributions for Romney’s campaign, disclosure records show.
Texas Gov. Rick Perry, who entered the race in August, took in at least $72,000 in contributions from 42 lobbyists through September, plus $77,000 bundled by a bank executive. Dozens of Washington lobbyists have also given money to trailing candidates Jon Huntsman Jr., Newt Gingrich and Rick Santorum, the analysis shows.
The early pace of donations underscores the pivotal importance that K Street donors are likely to play in driving up spending during the 2012 elections, which are widely expected to be the most expensive in U.S. history. Republicans are hoping that strong support from lobbyists and corporate political action committees will help them compete with President Obama’s formidable fundraising operation.
As he did in 2008, Obama has made a point of refusing to accept donations from lobbyists or corporate PACs, and his campaign has repeatedly portrayed Republicans as beholden to Wall Street and other well-funded interests. But Obama faced his own criticism this week after hiring a former corporate lobbyist as a senior campaign adviser.
The lobbyists who have donated to GOP candidates so far represent a broad swath of corporate interests, including technology firms lobbying for a tax holiday on overseas profits and oil companies hoping to preserve lucrative tax breaks on energy.
On Wednesday morning, for example, Romney attended a breakfast fundraiser at the American Trucking Association sponsored by more than a dozen K Street heavy-hitters. Hosts included longtime GOP fundraiser Wayne Berman, who represents the American Petroleum Institute and many others; GOP lobbyist Mark Isakowitz, whose lengthy client list includes banks, oil companies and technology firms; and Alex Mistri of the Glover Park Group, which briefly represented Solyndra, the solar-energy firm that went bankrupt after getting a $530 million government loan guarantee.
Perry, whose financial base lies in the oil fields of Texas, also has worked to make inroads into Washington’s lobbying community, recruiting donors to help bundle together contributions and seeking advice from K Street professionals. Last week, Perry held a series of private policy meetings with about 45 lobbyists, trade group executives and conservative leaders at the National Association of Wholesaler Distributors, whose president and government relations chief are key Perry fundraisers.
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