Brownstein poised to set new lobbying revenue record as election looms

(Reuters) - Law firm Brownstein Hyatt Farber Schreck said Thursday it brought in more than $15.2 million in lobbying revenue during the third quarter of this year, teeing it up to set a record-high annual total.

With $45.6 million in lobbying revenue so far this year and a full quarter remaining, the firm is now poised to exceed the $56.25 million it earned for all of 2021, a record for Brownstein and an apparent record for any lobbying firm.

Brownstein's third-quarter income, revealed as part of regular reports required by the Lobbying Disclosure Act, is the same amount the firm reported last quarter and nearly 10 percent more than the almost $13.9 million it reported for the same quarter in 2021.

Marc Lampkin, co-chair of Brownstein's lobbying practice, said he is "cautiously optimistic" about the upcoming quarter, noting there may be a slowdown within the lobbying industry as traditionally takes place around an election.

He said the firm's lobbyists will closely watch the midterm election results so they can be prepared to advocate for clients during the lame duck session. Those final weeks of Congress may be busier than normal if Democrats lose control of the House, Senate or both.

Akin Gump Strauss Hauer & Feld, a law firm that competes with Brownstein, said it earned almost $13.3 million in lobbying revenue this quarter. That's an increase from the $12.8 million it earned last quarter and brings its total for the year so far to almost $39.1 million.

"Election years are often down years for legislative activity, but that has certainly not been the case this year," said Hunter Bates, co-head of the firm's lobbying practice. He pointed to the passage of the Inflation Reduction Act and a law that created $52.7 billion worth of subsidies for the U.S. semiconductor industry as helping to drive that work.

Bates said the amount and focus of lobbying activity for the rest of the year will depend on the midterm elections next month, which will dictate party control of Congress for the next two years. Regardless of that outcome, he said the firm expects "an active lame duck agenda."

Another law firm with a large lobbying practice, Holland & Knight, reported earning almost $11.3 million this quarter, bringing its yearly total so far to roughly $32.2 million.

Squire Patton Boggs said it earned over $5.7 million the past quarter, bringing its total lobbying revenue in 2022 to about $19.8 million. K&L Gates reported a revenue of $5.5 million for the past quarter, and Covington & Burling reported over $2.9 million.

Read more:

Brownstein reports highest lobbying earnings in second quarter of 2022

Brownstein stays on top as D.C. lobbyists report strong quarter

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