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Trump’s return supercharges lobbying revenues

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President Donald Trump’s second term is already delivering a massive payday for Washington’s top lobbying shops — especially those with close ties to the administration.

According to disclosures filed this week, Trump’s wide-ranging policy upheavals across trade, tax, health care, tech, defense and energy boosted the bottom lines of almost every one of K Street’s biggest lobbying firms.

Thirteen of the largest 20 firms by revenue reported growth of 10 percent or more compared to 2024. In total, they brought in nearly $824 million, up from $595 million during the final year of the Biden administration.

Several reported their highest-ever annual revenues, including Ballard Partners, Brownstein Hyatt Farber Schreck, BGR Group, Akin Gump Strauss Hauer & Feld and Holland & Knight.

“The real driver was that it’s the most activity that we’ve seen from a first year of a new administration in a long time,” said Holland & Knight partner Paul Stimers, whose firm brought in $54.6 million in lobbying revenues last year.

While federal lobbying spending has been climbing steadily for the past decade — and the typical Year 1 of an administration also juices revenue — Trump’s aggressive use of executive power and influence is supercharging the trend.

“Every quarter it seems that there are more challenges and opportunities from the administration and Congress,” said Brownstein policy director Nadeam Elshami.

Some of the firms that saw the most dramatic windfalls were those with close ties to Trump and top administration officials.

Ballard Partners, which counts Attorney General Pam Bondi and White House chief of staff Susie Wiles among its alumni, signed more than 200 new clients after Trump’s election. It led K Street last year with more than $88.3 million in lobbying fees — a 350 percent increase from 2024.

In the fourth quarter alone, Ballard brought in more revenue than it did in all of 2024. (Blue Light News’s parent company, Axel Springer, was a Ballard Partners client for less than two months last year.)

Ballard contends that it’s focused on long-term success, beyond its sharp rise last year and close ties to the current administration.

“We remain doggedly committed to growing a fiercely bipartisan firm that is built to thrive in Washington’s dynamic political environment for decades to come,” said the firm’s founder and president Brian Ballard, who credited his employees for the firm’s growth.

Brownstein, K Street’s previous top earner and No. 2 for 2025, brought in $73.9 million in lobbying revenues last year, up from $67.9 million in 2024.

Coming in third last year was BGR Group, which employed former Wisconsin Republican Rep. Sean Duffy before he became Trump’s Secretary of Transportation. It also counts former Trump campaign adviser David Urban as a managing director. BGR reported $71.5 million in lobbying revenues last year, a 58 percent increase from 2024.

Among the upstart lobbying firms that cashed in on Trump’s second term were Continental Strategy, which was launched in 2021 by former Trump diplomat and adviser Carlos Trujillo. Continental, which also employs a top former aide to Secretary of State Marco Rubio and one of Wiles’ daughters, saw its lobbying revenues skyrocket from $1.8 million in 2024 to more than $27 million in 2025.

Checkmate Government Relations, which is led by Ches McDowell, a friend of Donald Trump Jr., reported receiving $70,000 from a single client at the end of 2024 but signed 80 clients and brought in more than $21 million in 2025.

Looking ahead, lobbyists expect trade to continue driving client interest in 2026, especially as businesses await the Supreme Court’s decision on the legality of Trump’s so-called reciprocal tariffs.

Even as they forecast a slowdown in legislation ahead of the midterm elections, lobbyists say they’ll also remain busy with congressional oversight, the government funding process as well as the administration’s latest foreign policy moves.

“Frankly, the lesson learned going forward is, Don’t be surprised,” Elshami said.

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Congress

Wyden urges Democrats to back FISA privacy amendments

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Sen. Ron Wyden sent a letter to his Democratic colleagues urging them to reject a clean renewal of Section 702 of the Foreign Intelligence Surveillance Act ahead of an expected House vote on Wednesday.

The federal surveillance authority expires Monday, and House GOP leadersdelayed a renewal vote set for Wednesday after disagreements with some Republicans over including amendments addressing privacy concerns. The White House and Republican leaders are calling for renewal without any changes, but a bipartisan group of lawmakers are demanding guardrails to address concerns AI can significantly enhance the government’s mass surveillance capabilities.

“With recent developments in AI supercharging how the government can surveil Americans, Congress must use this upcoming debate to make necessary reforms to all our surveillance laws,” Wyden (D-Ore.) said in the letter obtained exclusively by POLITICO.

The senator sent a similar letter to House Democrats on Monday.

A final vote in the House could happen around 10 p.m. Wednesday if GOP leadership can strike an agreement with holdouts on changes to the bill. That would set up a possible Senate vote on Thursday.

Amendments could include requiring a warrant for purchasing Americans’ information from data brokers, and closing a loophole that allows the government to use the foreign surveillance authority to investigate American citizens.

Wyden’s letter also called for declassifying a FISA Court opinion from last month that he described as finding major compliance problems with Section 702.

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Vought: White House doesn’t have ‘ballpark’ total for Iran war funding

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White House budget director Russ Vought told lawmakers Wednesday that the Trump administration hasn’t settled on “a ballpark” range for how much funding it will ask Congress to approve for the Iran conflict.

“We’re not ready to come to you with a request. We’re still working on it. We’re working through to figure out what’s needed in this fiscal year versus next fiscal year,” Vought said during testimony before the House Budget Committee on President Donald Trump’s fiscal 2027 budget blueprint.

Republican lawmakers are eager to receive the White House’s request for the Iran war, as GOP leaders discuss whether to fashion an emergency funding package that might attract Democratic votes or use the party-line reconciliation process to boost military spending.

It has been more than six weeks since the U.S. and Israel launched airstrikes on Iran and almost a month since Defense Secretary Pete Hegseth confirmed that the Pentagon sent the White House a request for $200 billion in emergency funding to support the military during the conflict.

The White House has said the forthcoming military funding request amid the Iran onslaught is separate from the president’s request earlier this month for a record $1.5 trillion in defense funding for the upcoming fiscal year.

Vought could get more questions on this topic Thursday when he testifies before the Senate Budget Committee.

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GOP leaders delay FISA vote amid GOP rebellion

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House GOP leaders postponed a Wednesday procedural vote on an extension of a key federal spy powers program as they scramble to land a deal with hard-liners around changes — acknowledging the truly “clean” extension that President Donald Trump is demanding is currently DOA in the chamber.

There are ongoing discussions around modifying the clean, 18-month extension of the surveillance authority known as Section 702 of the Foreign Intelligence Surveillance Act, or FISA, that Trump is ordering. GOP leaders acknowledged in private conversations Tuesday night and publicly Wednesday morning that at least some tweaks are necessary to quell a GOP rebellion that could lead to Section 702’s expiration April 20.

Republican leaders are still hoping to hold a procedural vote later Wednesday to pave the way for floor consideration of the measure, if they can strike an agreement with hold-outs around some changes. A final vote would then happen around 10 p.m. Wednesday. But Speaker Mike Johnson was noncommittal in an interview late Wednesday morning if all that could still happen. “We’ll see,” he said.

Conversations around potential changes picked up Tuesday night, as Blue Light News first reported. Holdouts are asking for guardrails on the program, including warrant requirements; the White House is open to making changes in this regard but likely in a more watered-down capacity than what hard-liners have been seeking.

Ultraconservatives are also pushing House GOP leaders and the White House to follow through on a previous promise to advance a ban on a central bank digital currency, known as CBDC. House GOP leadership and the White House are pushing for a longer Section 702 extension in exchange for advancing that policy or other reforms, while some hard-liners want the promised CBDC ban passed as a standalone rather than attached to the FISA bill.

Majority Leader Steve Scalise said in an interview that White House officials, GOP leaders and Republican holdouts are discussing some “potential amendments.” He added, “We’re still negotiating.” He maintained GOP leaders and White House officials won’t incorporate any changes that undermine the underlying government surveillance program.

Nothing has been agreed to. And Scalise said in an earlier interview leaders would likely incorporate “minor tweaks” into the procedural rule governing floor debate on the underlying bill — if the White House approves.

So far, however, conversations have not sufficiently moved the needle. Hard-liners aren’t budging, continuing resisting renewed calls from Trump and an increasingly aggressive pressure campaign from the administration. That includes a detailed presentation from CIA Director John Ratcliffe at Wednesday morning’s closed-door House GOP Conference meeting on the need for a clean extension.

“Look, he’s the executive, we’re the legislative, and we’re going to see a little bit of conflict between those two today,” Freedom Caucus Chair Andy Harris (R-Md.) said Wednesday, referring to the president.

GOP Reps. Michael Cloud of Texas, Andrew Clyde of Georgia and other hard-liners stood up in the GOP Conference meeting to raise their concerns about a clean reauthorization and continued push for overhauling the program. Some Republicans grew irritated that Ratcliffe “filibustered” until close to the end of the meeting’s scheduled conclusion to avoid taking challenging questions, according to four people in the meeting.

Even before the rule vote was postponed, several rank-and-file members said they were not confident the rule would be adopted.

“There are some who will vote against the rule for sure,” said one House Republican granted anonymity to speak candidly. “It’s a math issue.”

Democrats aren’t expected to help Republicans overcome the procedural rule, even though some of them support a reauthorization without policy changes at this time. The top Democrats on the House Intelligence and Judiciary Committees — Reps. Jim Himes of Connecticut and Jamie Raskin of Maryland, respectively — discussed a joint proposal for a package of FISA overhaul provisions at their party’s weekly caucus meeting Monday morning, which they plan to attempt to advance if the Republicans’ rule fails, according to two people in the meeting.

A fail safe option, if negotiations don’t yield results soon, is to pursue a very short term clean extension — possibly a few months — to buy more time for talks. White House officials and GOP leaders are trying to avoid that scenario.

Riley Rogerson contributed to this report.

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