How Lobbying Became A $3.5 Billion Industry

Lobbying is a huge industry in the U.S. In 2019, around 12,000 registered professionals helped clients spend over $3.5 billion, which seems to pay off. According to one study, for every dollar spent on lobbying and campaign contributions, a corporation can receive up to $760 from the government. Still, lobbying is often criticized and public perception of the practice is low. Opponents say that the industry isn’t adequately regulated, and that the ability to influence policy is in the favor of those with unlimited financial resources. Supporters say that without their in-depth expertise, lawmakers wouldn’t be able to do their job effectively and efficiently. Watch the video above to understand how lobbying works, why it exists and how it became a powerful tool for businesses. » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC Subscribe to CNBC PRO: https://cnb.cx/2NLi9AN #CNBC How Lobbying Became A 3.5 Billion Industry