logo
How K Street priorities fared in the tax package

How K Street priorities fared in the tax package

Politico13-05-2025

With help from Daniel Lippman
WHAT'S IN THE BIG, BEAUTIFUL BILL: The marathon process lovingly referred to on K Street as the 'Super Bowl of tax' formally kicked off last night as House GOP tax writers unveiled their long-anticipated bill to extend President Donald Trump's 2017 tax cuts. And this afternoon began the markup, which is expected to turn into an all-nighter.
— Our intrepid Congress team is on top of all the action — keep up with all the twists and turns on our Inside Congress blog — but PI also wanted to highlight a few notable provisions here.
— Top business groups, predictably, have been cheering the tax package all day — despite the fact that the bill would only temporarily revive some of the business community's top priorities, like full write-offs on research and development expenses and full expensing of capital investments.
— Meanwhile, credit unions are breathing a sigh of relief after it appears they've staved off a threat to their tax-exempt status — for now, anyway. 'We have worked hard to show the impact credit unions have on their 142 million members and communities,' America's Credit Unions President Jim Nussle said in a statement, adding that 'we remain engaged with the committee as it considers amendments through the markup process to ensure no new tax is added on credit unions.'
— Ditto for the real estate, venture capital and private equity industries, which survived a last-minute push by Trump last week to eliminate the so-called carried interest loophole.
— Not feeling so great today are nonprofits, universities, the clean energy industry and billionaire sports team owners. The reconciliation bill would grant the Treasury secretary new powers to revoke nonprofit organizations' tax-exempt status, and it would hike taxes on foundations with assets of more than $50 million.
— Colleges and universities with the largest endowments, meanwhile, would be hit with a massive tax hike under the GOP plan. Schools with student-adjusted endowments of more than $2 million would see the tax rate on net investment income soar from the current rate of 1.4 percent to 21 percent, while schools with endowments between $1.25 million and $2 million would see their endowment tax raised to 14 percent.
— The House bill would also gut climate tax incentives from the Inflation Reduction Act, which has already triggered pushback from Senate Republicans, and would slice the tax write off for owners of pro sports franchises in half.
— But another lobbying priority for sports leagues and the broader fitness industry managed to find its way into the reconciliation plan. It includes language that would allow people to use pre-tax health dollars on fitness-related expenses such as gym memberships and fees for youth sports leagues or other physical activities.
— The PHIT Act has been one of the top legislative priorities for the Health & Fitness Association, which held a fly-in to lobby for the measure last week. It also had the backing of the top major pro sports leagues, the golf industry, retailers including Nike, and trade groups representing athletic trainers, pediatric nurse practitioners, physical therapists and personal trainers. However, draft text released by tax writers is more narrow, and would not include spending on fitness equipment, one-on-one personal training or some online fitness classes.
— The reconciliation bill also includes the repeal of a 10 percent excise tax on indoor tanning services. Republicans and the tanning industry have sought to abolish the tax, which was introduced by the Affordable Care Act, arguing that it has forced small tanning salons out of business.
— That effort faltered in the GOP's 2017 tax bill as well as Republicans' failed attempt to repeal the ACA altogether, but earlier this year the American Suntanning Association brought on new outside lobbyists at Nelson Mullins Riley & Scarborough to help get the repeal over the finish line, according to a disclosure filed last week.
Happy Tuesday and welcome to PI, where I hope you have your energy drink of choice handy. What else are you celebrating — or mobilizing against — in the reconciliation bill? You can add me on Signal, email me at coprysko@politico.com, and be sure to follow me on X: @caitlinoprysko.
MORE UNIVERSITIES ADDING LOBBYING HELP: The K Street hiring spree by higher education isn't slowing down, according to another batch of newly filed disclosures. Johns Hopkins University, which received more than $1 billion last year in NIH funding that's been targeted for cuts by the Trump administration, retained Miller Strategies' Jeff Miller and James Min back in March, according to a disclosure. They're the second new outside firm added by Johns Hopkins this year. The school hired HB Strategies last month to lobby on funding issues and the endowment tax.
— Meanwhile American University retained Holland & Knight in April to lobby on 'higher education related matters, policy and regulation,' according to a disclosure filing. It's the first time that AU, whose president signed a letter last month rebuking Trump's efforts to interfere on college campuses, has had federal lobbyists on its payroll since 2009.
LA LA LAND: 'So-called Hollywood ambassadors Jon Voight and Sylvester Stallone joined with a coalition of entertainment industry groups for a letter delivered this week to President Trump urging him to support tax measures and a federal tax incentive that would help bring film and TV production back to the U.S.,' the Los Angeles Times' Samantha Masunaga reports.
— 'The letter is signed by Voight, Stallone, all the major Hollywood unions and trade groups such as the Motion Picture Assn., the Producers Guild of America and the Independent Film & Television Alliance, indicating widespread support from the entertainment industry.'
— ''Returning more production to the United States will require a national approach and broad-based policy solutions ... as well as longer term initiatives such as implementing a federal film and television tax incentive,' the letter states.' Notably, the groups' proposed tax changes does not include the 100 percent tariff on foreign movies threatened by Trump last week.
FLYING IN: The Independent Community Bankers of America is flying nearly a thousand community bankers into town this week to chat with policymakers about CFPB rules, tax relief and rural lending. They'll also hear from House Financial Services Chair French Hill (R-Ark.), Rep. Byron Donalds (R-Fla.) and deputy Treasury Secretary Michael Faulkender.
— The American Hotel and Lodging Association is also flying in this week to reiterate the hospitality industry's top tax priorities. Those include making permanent the so-called 199A deduction for pass-through entities and protecting a provision in the tax code that allows real estate developers to avoid capital gains taxes when they exchange properties — both of which the House bill does.
WILD STORY FROM MAHA LAND: 'An internal battle has emerged inside the 'Make America Healthy Again' movement, with the CEO of a supplements company and a top adviser to Health and Human Services Secretary Robert F. Kennedy Jr. leveling accusations against each other that include making threats of retribution, conflicts of interest and leaking false information to far-right activist Laura Loomer,' POLITICO's Daniel Barnes reports.
— 'At the center of the fight are Peter Gillooly, CEO of The Wellness Company, and Calley Means, who in addition to serving as an adviser to RFK Jr. is the co-founder of a health care payments company and the brother of Casey Means, who was recently nominated to be the next surgeon general.'
— 'In a formal complaint to the Office of the Special Counsel and other agencies filed Saturday and obtained by POLITICO, Gillooly accuses Calley Means of abusing his position at HHS and violating the law prohibiting conflict of interest in government services by threatening to involve Kennedy and National Institutes of Health Director Jay Bhattacharya in the dispute.' Means is currently designated as a special government employee, allowing him to serve in a temporary capacity without having to step away from his personal business.
— ''If one more thing happens, I'm going to go to Jay Bhattacharya and Bobby and tell him that you and your cadre of Peter McCullough and Kelly Victory are spreading lies and trying to fuck with him and hurt his administration,' Means said, naming two members of the company's medical board, in a recording of a Saturday morning call between him and Gillooly obtained by POLITICO. (The transcript of the call is quoted in the complaint.)'
WHERE THERE'S SMOKE: 'The largest firefighters' labor union in the U.S. is demanding antitrust authorities investigate the companies that make fire trucks, saying industry consolidation has led to skyrocketing costs and years-long wait times, endangering fire fighters and the public,' per Reuters' Jody Godoy.
— In a letter to DOJ antitrust chief Gail Slater and FTC Chair Andrew Ferguson today, the International Association of Fire Fighters called for a probe of three companies — REV Group, Oshkosh and Rosenbauer — that the union said make up two-thirds of the market for fire and emergency vehicles.
— 'Truck prices have doubled in the past decade, with ladder trucks now costing as much as $2 million each, while fire departments are facing backlogs as long as four years, said IAFF, which represents fire and emergency workers in the U.S. and Canada, and American Economic Liberties Project, an antimonopoly group.'
Jobs report
— Ben Napier is joining Andreessen Horowitz as a government affairs partner, where he'll lead engagement with House Republicans. He's spent the past nine years with House Majority Leader Steve Scalise, most recently serving as floor director.
— Staci Pies is joining INCOMPAS as senior vice president of government affairs and policy. She was previously vice president of public policy at Crown Castle, and is a Google, Microsoft and FCC alum.
— Chase Adams is now senior vice president at Milne, Wiener & Shofe Global Strategies. He most recently was assistant vice president for the National Pork Producers Council.
— Holland & Knight has added former FERC Chair Willie Phillips and former FERC chief of staff and senior legal adviser Ronan Gulstone as partners in the public policy and regulation practice group.
— Jordan Goldberg is now policy director of the Reproductive Freedom Alliance. She most recently was director of policy at the Primary Care Development Corporation.
— Debra DeShong is now senior vice president at Invariant and head of its crisis communications and corporate risk practice. She most recently was head of corporate communications for Qcells and Hanwha USA and is a PhRMA alum.
— Kimberly Makrai is joining Impression Strategy. She was previously campaign manager for Florida State Rep. Dana Trabulsy.
— Thomas Aiello has rejoined the National Taxpayers Union as senior director of government affairs. He previously spent five years at NTU and most recently served as a director at the DCI Group.
— BGR Group has added Brendon Weiss as chief business officer. He's the co-founder and CEO of EscrowTab.
— TSG Advocates is adding Brian Darling, Beau Rothschild and Kaitlyn Roberts. Darling previously was at Navigators Global and Liberty Government Affairs. Rothschild previously was at Porter Wright Morris and Arthur. Roberts most recently was a corporate adviser at Aramco.
New Joint Fundraisers
Committee to Elect The Best (Sen. Jon Ossoff, Clarence for GA)
Uphold the Senate (Sens. Dan Sullivan, Steve Daines, Thom Tillis, True North PAC, Big Sky Opportunity PAC, Together Holding Our Majority PAC, NRSC)
New PACs
AE Industrial Partners PAC Inc. (PAC)
Icon Race Club LVE/Rider (PAC)
PaulJones4StateAssembly (Super PAC)
New Lobbying REGISTRATIONS
Alpine Group Partners, LLC.: Advantage Silver Dental Arrest, LLC (Asda)
Alpine Group Partners, LLC.: Dulcich, Inc. D/B/A Pacific Seafood Group
Alpine Group Partners, LLC.: Glass Aviaition Holdings, Inc. (D/B/A Airspace Data)
Alpine Group Partners, LLC.: Kaliroy Fresh, LLC
Alpine Group Partners, LLC.: Solana Policy Institute
Blank Rome Government Relations: Blank Rome LLP (On Behalf Of Carnival Corporation)
Brian Glackin & Associates LLC: Jones Walker LLP (On Behalf Of City Of West Memphis
Brian Glackin & Associates LLC: Maritime Tactical Systems (Martac)
Checkmate Government Relations: Alpek Polyester USa, LLC
Checkmate Government Relations: Baptist Health South Florida
Checkmate Government Relations: General Dynamics Land Systems Inc.
Checkmate Government Relations: Lion Copper And Gold Corp.
Checkmate Government Relations: National Shooting Sports Foundation Inc.
Checkmate Government Relations: Silver Bow Mining Corp
Cozen O'Connor Public Strategies: Parkway Garage, Inc.
Currentstrategic LLC: Technest Solutions S.L.A. Dba Fortris On Behalf Of Nexusone Consulting
Faegre Drinker Biddle & Reath LLP: Greenwave Energy Partners, LLC
Hartwell Capitol Consulting: Williams Lpp
Holland & Knight LLP: American University
Holland & Knight LLP: Clark Street Associates On Behalf Of Pacific Fusion Corporation
Lobbyit.Com: 7Streams
Lobbyit.Com: Advocates For Wild Equines (Informal Coalition)
Lobbyit.Com: American Dental Hygienists Association
Lobbyit.Com: Auerbach International Inc.
Lobbyit.Com: Em Designs, LLC
Lobbyit.Com: Lea County, New Mexico
Lobbyit.Com: Vital Records Online
Lobbyit.Com: Wellness Ai
Milne, Wiener & Shofe Global Strategies (Fka M & W Government Affairs, LLC): National Pork Producers Council
Mo Strategies, Inc.: Forest County Potawatomi Community
Nestpoint Associates LLC: Live Comfortably LLC
Nestpoint Associates LLC: Soho Apparel Group Inc.
Nexusone Consulting: Technest Solutions S.L.A. Dba Fortris
Nordest Advisory LLC: Cbrain A/S
Steptoe LLP: Velico Medical Inc.
Tsg Advocates Dc, LLC: Guidewell Mutual Holding Corporation
New Lobbying Terminations
Cline Strategic Consulting, LLC: Ride Group LLC
Dentons US LLP: National Vote At Home Coalition

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Senate GOP Clashes With House on Trump Tax Bill
Senate GOP Clashes With House on Trump Tax Bill

Bloomberg

time10 minutes ago

  • Bloomberg

Senate GOP Clashes With House on Trump Tax Bill

"Balance of Power: Late Edition" focuses on the intersection of politics and global business. On today's show, White House Council of Economic Advisers Chair Stephen Miran says inflation has been successfully coming down because of President Donald Trump's policies. Xavier Becerra, former California Attorney General, weighs in on the Los Angeles protests, Governor Newsom suing the Trump Administration, and his reaction to the President deploying the National Guard and Marines into the city. US Energy Secretary Chris Wright discusses oil prices surging as reports suggest the United States potentially evacuating its embassy staff in Baghdad. (Source: Bloomberg)

PBS, NPR funding on the line as House nears final vote on $9.4 billion in DOGE-backed cuts
PBS, NPR funding on the line as House nears final vote on $9.4 billion in DOGE-backed cuts

CNBC

time10 minutes ago

  • CNBC

PBS, NPR funding on the line as House nears final vote on $9.4 billion in DOGE-backed cuts

The House on Wednesday moved a step closer to approving President Donald Trump's $9.4 billion spending cut package, which would codify some cuts originally proposed by the Department of Government Efficiency. The package would grant permission to the White House not to spend billions of dollars that had already been approved by Congress. The money would be clawed back from specific agencies like the U.S. Agency for International Development (USAID) and the Corporation for Public Broadcasting, which distributes federally appropriated grants to National Public Radio (NPR) and Public Broadcasting Service (PBS). Although the Wednesday procedural vote passed largely along party lines, a final vote expected Thursday could see some resistance from House Republicans who are uneasy about the popular programs that are being targeted, like PBS and National Public Radio. Given House Speaker Mike Johnson's narrow Republican majority, he can only afford to lose a handful of votes and still push the package over the finish line on a party-line vote. Johnson said earlier this week that he was "working on" getting enough Republicans on board to pass the DOGE package, CNN reported. Wednesday's vote also finalized changes to Republicans' "big, beautiful bill" that were required by the Senate before the measure was allowed to pass with a simple majority, rather than the typical 60-vote Senate threshold. Budget measures like the "big, beautiful bill" can be considered under a special set of rules known as reconciliation. The Senate's parliamentarian, who acts as a sort of referee in disputes over Senate rules, had flagged some provisions in the package earlier that she said were incompatible with the chamber's reconciliation rules.

GOP lawmaker flips script on Newsom, Bass by defining anti-ICE riots with 1 word
GOP lawmaker flips script on Newsom, Bass by defining anti-ICE riots with 1 word

Fox News

time10 minutes ago

  • Fox News

GOP lawmaker flips script on Newsom, Bass by defining anti-ICE riots with 1 word

EXCLUSIVE: GOP Rep. Darrell Issa is blasting elected Democrat officials in his home state of California over their response to the anti-ICE riots in Los Angeles after he called for a congressional investigation into the response time of local law enforcement. "These are the same people that tell us, you know, Biden was fine, he was on the top of his game," Issa said about Democrat narratives responding to the riots that have been unfolding in Los Angeles since Friday. "So their credibility goes with what you see versus what they say. I can't think of a better example of why you shouldn't believe or vote for people in that party as long as they're willing to literally lie to your face on what you're seeing with your own eyes." Democrats across the country, from California to Washington, D.C., have downplayed the rioting and focused on the claim that the majority of the anti-ICE displays have been "peaceful." Additionally, California Gov. Gavin Newsom, Los Angeles Mayor Karen Bass and other Democrats have blamed President Donald Trump's mobilizing the National Guard for making the situation worse. Issa, who represents California's 48th Congressional District, took issue with that narrative. "First of all, there was damage, both vandalism and actual destruction done before Trump got involved, and that's the reason he got involved, but there's another thing that some people miss," Issa told Fox News Digital. "When ICE agents called for police support when they were being assaulted, they hunkered down and waited two hours before police responded because police couldn't get authority to react. So that alone gave a reason for the president to bring in additional federalized troops to protect the ICE agents." On Tuesday, Fox News Digital exclusively reported Issa's call for an investigation into the Department of Homeland Security's claim that the LAPD took two hours to respond to assist ICE agents being assaulted on Friday night. The LAPD, in a Sunday press conference, denied that allegation and said it took 40 minutes to respond due to traffic. "Understand that we have over 10 million people who were let into this country, and tens of thousands of them are serious criminal aliens," Issa said. "There were warrants. There were orders to deport. There are reasons that we've got to go after many of these people in cities around the country. If ICE agents can't be protected or won't be protected by people like the mayor and my governor, then the president's going to have to continue to do this, eventually create escorts for ICE agents." Issa told Fox News Digital that Trump is doing a "great job" in his response to the unrest in Los Angeles. "One thing that I'm very happy about is, I know that by taking strong action here, he's keeping it from occurring in other cities around the country, because what you don't want is what ultimately happened in 2020 where we saw it happening not just in one city but in city after city where more than two dozen people died and billions of dollars of damage occurred because it wasn't handled quickly enough, and we've learned from that." Issa told Fox News Digital that he finds it curious why Democrats have used the word "insurrection" to describe the Jan. 6th riots that lasted hours but have not used the term to describe what has unfolded in Los Angeles over several days. "We heard the word 'insurrection' for a couple of years nonstop, and now in Los Angeles, when people are directly assaulting property and law enforcement, that's the very definition of insurrection; and particularly when they're doing it on behalf of people who are sitting in jails because they were arrested for crimes, not just for entering the country illegally but for actual felonies," Issa said. "And it's sort of amazing to believe that high-ranking elected officials like Gov. Newsom would actually try to defend any of that action. And yet they're doing it." Issa went on to say that Newsom's response to the riots "might have worked in the era of print or maybe even the era of radio" but that video evidence of rioting from the scene makes his position untenable. "Television and podcasts and everyone having a cellphone, those images are going to be what the American people [is going to] see when he tries to pretend that he was a good governor," Issa said. "They're going to see a failure to do his job and an absolute resistance against those who came in to do it for him." Fox News Digital reached out to the offices of Newsom and Bass for comment. "Trump is pulling a military dragnet all across Los Angeles, well beyond his stated intent to just go after violent and serious criminals," Newsom said on Tuesday night. "His agents are arresting dishwashers, gardeners, day laborers and seamstresses. That's just weakness. Weakness masquerading as strength. Donald Trump's government isn't protecting our communities. They're traumatizing our communities. And that seems to be the entire point." "When Donald Trump sought blanket authority to commandeer the National Guard, he made that order apply to every state in this nation. This is about all of us. This is about you. California may be first, but it clearly will not end here. Other states are next. Democracy is next. Democracy is under assault before our eyes. This moment we have feared has arrived. He's taking a wrecking ball, a wrecking ball to our Founding Fathers' historic project."

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store