Bloomberg Government today released its annual comprehensive analysis of the top-performing lobbying firms. The report finds that federal lobbying reached a new high in 2023, topping $4 billion for the second consecutive year. Gains almost kept pace with inflation – a 3.1% year-over-year increase – amid the upheaval in Congress that thwarted action on many bills and culminated in two abrupt replacements of the speaker of the House. 

Bloomberg Government analyzed Lobbying Disclosure Act reports from every firm that was registered with the Senate and House in 2023. The report focuses on the 381 firms that reported $1 million or more in revenue for the year.

Disclosures required by law showed $4.27 billion in spending last year, up from $4.14 billion, according to a Bloomberg Government analysis. 

That 3.1% increase — just short of the 3.4% increase in the Consumer Price Index — was posted as the pace of routine legislative activity slowed and both lawmakers and the influence industry started looking ahead to the next big things, such as the looming expiration of major provisions of the 2017 Tax Cuts and Jobs Act.

The lobbying firms reporting the most revenue remained unchanged in 2023: Brownstein Hyatt Farber Schreck, tops the list with $62.7 million, followed by Akin Gump Strauss Hauer & Feld, Holland & Knight, and BGR Government Affairs. Rounding out the top 10 are Cornerstone Government Affairs, Invariant, Thorn Run Partners, Capitol Counsel, Forbes Tate Partners, and Crossroads Strategies.

"Now in its ninth year, Bloomberg Government's annual analysis of the lobbying industry offers unparalleled insights into the dynamic landscape of lobbying," said Arielle Elliott, president, Bloomberg Government. "As federal lobbying spending reaches new heights, Bloomberg Government's data, analytics, and tools empower professionals to navigate this complex environment with confidence."

The comprehensive top-performing lobbying firms report offers insights into the growth, trends, and key players in the lobbying industry, furthering Bloomberg Government's commitment to providing the most comprehensive news and analysis for government affairs professionals influencing Washington.

To access the full report, please visit https://aboutblaw.com/bdqT.