The 2012 election, the most expensive on record, left the political action committees of many top lobbying firms hurting for cash, a Center for Public Integrity analysis of Federal Election Commission records indicates.
The PAC sponsored by Patton Boggs, for example, the nation's biggest lobbying firm, ended the 2012 presidential election cycle with 20 percent less cash than it did after the 2008 presidential election cycle — nearly $146,000, versus $183,000 records show. It also ended the 2010 midterm election cycle with slightly more available cash. Patton Boggs has no comment on its PAC activity, said Kevin O'Neill, deputy chairman of the firm's public policy department.
The firm's dozens of recent clients include AT&T, Citigroup, Delta Airlines, Facebook, FedEx, General Electric, Goldman Sachs, the Lance Armstrong Foundation, National Association of Broadcasters, Northrop Grumman, Raytheon, Visa and Wal-Mart, according to filings with the U.S. Senate.
Meanwhile, the PACs of Van Scoyoc Associates, Williams and Jensen and Cassidy & Associates also each enter the 2014 election cycle with less cash on hand than they did at the same point two and four years ago, the analysis shows.
Holland & Knight, K&L Gates, Alston & Bird and Akin, Gump, Strauss, Hauer & Feld enter the midterm election season off their cash-on-hand mark from either two or four years ago, but not both. Although K&L Gates' PAC is in slightly better financial shape now than at the end of the 2010 cycle, its current reserve of about $138,000 is down more than 23 percent from the more than $180,000 it boasted following the 2008 cycle.