Large technology companies are bracing for a fresh administration and new scrutiny of their businesses with a time-tested strategy: opening their pocketbooks.
Facebook Inc. and Amazon.com Inc. exceeded all other US companies in federal lobbying expenditures last year, according to Wall Street Journal analysis of the most recent disclosures. It was the second consecutive year they outspent all other companies, including stalwarts such as Boeing co. and AT&T Inc. and Boeing Co.
Amazon, which saw CEO Jeff Bezos testify before Congress for the first time and continued pressing to extend its business as a government contractor, spent roughly $18 million last year, up roughly 11% from 2019 spending.
The Journal analyzed reports filed by US companies with Congress under the Lobbying Disclosure Act. The reports cover the entire year.