Loeffler Again “Under Scrutiny” As New Report Reveals Firm’s Extensive Lobbying History

December 23, 2019

Already facing a “‘minefield’ of potential ethical issues,” new revelations show $17 million spent on Washington lobbying  and controversial lobbyist hires at Loeffler’s firm

ATLANTA — Following revelations of her “‘minefield’ of potential ethical issues” just weeks ago, “political mega-donor” Kelly Loeffler is already back “under scrutiny” as a new AJC report shows her firm’s extensive history influence-peddling with lawmakers and making lobbyist hires as part of the revolving door between her business interests and Washington — spending an eye-popping $17 million as part of their lobbying efforts since 2002.

“While Kelly Loeffler and her special interest allies try to call her an ‘outsider,’ the facts continue to reveal how she’s used her extensive resources to influence Washington for years,” said Alex Floyd, spokesman for the Democratic Party of Georgia. “Whether it’s the millions she donated to politicians or the whopping $17 million her firm spent on lobbying efforts, Georgia voters are tired of this exact kind of Washington influence-peddling and will remember her lobbyist record in November 2020.”

Loeffler pledged $20 million in an effort to buy her Senate seat — raising plenty of ethical flags, with watchdog groups calling it “a minefield of issues” that would potentially let her oversee her own business interests in the Senate. And when asked about how she would manage this, Loeffler was evasive to say the least, refusing to say “how she planned to manage her finances or whether she would sit out votes that could influence her business.”

Now, these latest revelations show a long history of Loeffler and her firm engaging in influence peddling and making key lobbyist hires from DC — and spending millions to lobby lawmakers and federal agencies along the way, putting her firm among the “top-spending securities and investment firms since 2011” in terms of lobbying activity.

Read about these latest ethical red flags from Loeffler below:

AJC: Lobbying by incoming Georgia senator’s firm under scrutiny

  • Before Republican Kelly Loeffler emerged as Gov. Brian Kemp’s pick for a U.S. Senate seat, the powerful financial firm where she’s long served as a senior executive spent millions of dollars to lobby the congressional lawmakers she’ll soon join and the government agencies she’ll soon influence.
  • An Atlanta Journal-Constitution analysis of financial disclosures showed that Intercontinental Exchange, the Atlanta-based financial platform, has spent more than $17 million lobbying Congress and federal agencies since 2002.
  • [Loeffler’s] corporate ties have brought scrutiny over whether she’ll serve on powerful committees that oversee the financial industry or cast votes on issues that could influence her husband’s company or its subsidiary, the Bakkt digital currency firm she now runs.
  • [Loeffler] would not say whether she would recuse herself from certain votes that could influence the business.
  • [Loeffler’s] lobbying expenditures have drawn the attention of watchdog advocates who have encouraged her to disclose her potential conflicts of interest and be transparent about her financial holdings.
  • “Senator Loeffler will have a big challenge proving she represents the average Georgian because of the financial interests that she and her husband represent,” [William Perry of Georgia Ethics Watchdog] said.
  • Financial records show Intercontinental Exchange has hired several well-connected lobbyists including Alex Albert, a former top aide to Zell Miller when he was in the U.S. Senate, and Hope Jarkowski, who once worked for the Senate Banking Committee.

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