A recent academic study on the financial benefits that lobbyists draw from the practice of the “revolving door,” found that “Lobbyists with experience in the office of a US Senator suffer a 24% drop in generated revenue when that Senator leaves office.” The study found that committee assignments and length of time in office (things which add up to “influence”) also increase revenue for ex-staffers turned lobbyists.
The researchers point out that “While there is no scarcity of anecdotal evidence, direct econometric evidence on the extent to which previous officials are able to convert political contacts into lobbying revenue remains, to the best of our knowledge, non-existent.” But the study purports to provide such evidence. The authors point out that “measured in terms of median revenues per ex-staffer turned lobbyist, this estimate indicates that the exit of a Senator leads to approximately a $177,000 per year fall in revenues for each affiliated lobbyist.”
Several recent articles have pointed out the lobbyist potential for Hill staffers with close connections to members who may be in positions of even greater power after November, such as Reps. John Boehner, Eric Cantor, or Dave Camp, all Republicans who are in line for powerful House majority jobs should the chamber flip.
The researchers used several tools, including the Center for Responsive Politics’ database, Legistorm.com, and Lobbyists.info. The entire report is available at http://cep.lse.ac.uk/_new/publications/abstract.asp?index=3654.
Read more at the Lobby Blog: