A POTENTIAL GOP TAKEOVER of the Senate may scare Democrats more than anything Halloween could bring, but firms on K Street are seeing dollar signs. POLITICO writes that Republican lobbyists have spent eight years in a tertiary role thanks to Democratic control of the Senate, but that may soon change.
The New York Times estimates that there’s a 66% chance that the GOP re-takes the Senate, while FiveThirtyEight projects a 62.3% chance. Whichever model you use, things are looking up for the Republican party, and GOP lobbyists are salivating. Republican-centric firms such as the Nickles Group and Crossroads Strategies would certainly enjoy a boost in revenue, as well as individual Republican lobbyists and particularly those with ties to GOP leadership. But a Republican takeover of the Senate would impact the entire landscape of K Street.
Firms that aren’t explicitly Republican are still making plans to deal with a Republican majority. As CQ Roll Call notes in its Beltway Insiders Blog, firms would likely hire up to cater to the new majority, but existing Republican employees will also enjoy greater prominence in the K Street power structure.
But it’s not just Republicans who would benefit from a shift in the balance of power. POLITICO makes the point that any change on K Street brings in new business as clients attempt to get a feel for the new regime. Indeed, Roll Call reports that even the possibility of a GOP majority is enough to bring in new business as clients attempt to gain an edge even before election day.
While the possibility of Republicans gaining a majority in both chambers is a scary possibility for Democrats, K Street appears poised to enjoy a hefty bump in business should things go well for the GOP next week.