Warren proposes tax on 'excessive' lobbying
October 2, 2019
Democratic presidential candidate Elizabeth Warren today proposed a steep new tax on “excessive” lobbying.
Corporations and trade associations would face levies of as much as 75 percent on the money they spend lobbying the federal government. Warren said the idea is designed to simultaneously reduce the power of lobbyists while also generating billions in revenue that she says would be earmarked for shoring up federal agencies that face "significant lobbying activity" and support offices for Congress like the CBO.
“It’s just one more example of the kind of big, structural change we need to put power back in the hands of the people – and break the grip that lobbyists have on our government,” Warren wrote on Medium.com.
She would impose a 35 percent tax on lobbying expenditures totaling between $500,000 and $1 million. “For every dollar above $1 million spent on lobbying, the rate will increase to 60 percent – and for every dollar above $5 million, it will increase to 75 percent,” she said.
Source: https://www.politico.com/
