Tech companies spend a lot of money on lobbying. Two companies that are known for opening their wallets for political lobbying are Google Inc (NASDAQ:GOOGL) and Verizon. In the last two years, the two companies spent a combined $63 million to drive legislation in their favor. And the two companies already spent $6 million combined in 2014.
Google spent over $3.8 million in 2014 so far. One of Google’s ideas for lobbying was hosting a conference at George Mason University with Federal Trade Commission regulators added to the list of invited people. Verizon spends money on lobbying the Federal Communications Commission for wireless spectrum.
“These companies continue to spend whatever they think necessary to buy the laws and regulations they want,” stated John M. Simpson, Consumer Watchdog’s Privacy Project Director. “These disclosure statements don’t include payments to trade associations or the sort of ‘soft’ lobbying that has become a Google trademark – funds to think tanks and academic research centers. When all that is factored in, the amounts are staggering. Policy making is no longer about what’s right; it’s all about the money.”