The Republican tax overhaul will provide years of work for K Street lobbyists, according to Theodoric Meyer of Politico.
“Rather than streamlining the tax code, Republicans have made it more complicated by jamming through a new series of temporary tax breaks for everything from craft brewers to citrus growers. Lobbyists expect these breaks, known as tax extenders, to generate paydays for years,” Meyer writes.
No matter which party is in charge in the coming years, lobbyists plan to pressure lawmakers to maintain various tax cuts as their expiration dates approach.
And the bill was written so quickly that much of the fine print is ambiguous, providing ample opportunity for lobbyists to shape the interpretations and clarifications that are coming.
One lobbyist Meyer spoke to, Russ Sullivan of McGuireWoods Consulting, compared the bill to “an annuity that will provide benefits for years.”