This WSJ report notes that various lobbyists are seeking part of the stimulus pie.
President-elect Barack Obama’s stimulus plan aims to help Main Street, but it is already sparking boom times on K Street as lobbyists from a host of U.S. industries seek a share of the projected $800 billion package.
Wind farms want permanent tax credits. The steel industry wants “Buy American” protection for infrastructure projects in the bill. Home builders want a national low mortgage rate, guaranteed by Uncle Sam. Universities want money for campus repairs, as well as $700 more per student in federal grants.
The spending requests total many times the likely size of the package. Environmentalists alone put together a wish list of 80 projects that add up to $405 billion.
With a fight likely over a pie that, however large, isn’t big enough for all, industries are crafting creative pitches to show that assistance to them would provide the fastest, broadest or most comprehensive stimulus.