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Business & Economy
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Business & Economy
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K Street gears up for Trump 2.0
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Lobbyists will have their hands full in 2025 with several massive legislative battles in a second Trump administration.
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President-elect Trump is poised to disrupt business as usual in Washington when he takes office Jan. 20, threatening steep tariffs on U.S. imports that could hit foreign allies and enemies and the businesses that utilize international supply chains.
The Republican-controlled Congress is also preparing to move two budget reconciliation bills — which would allow them to pass legislation with a simple majority — to shore up border security as Trump cracks down on immigration and to extend and build upon Trump’s 2017 tax cuts.
“The question for every business or trade association is: Are you on a Republican member’s top three must-have list? Having solid champions will be the difference between success and disappointment in 2025,” said Loren Monroe, a principal at BGR Group.
Congress has also been punting the five-year agriculture funding package, known as the “farm bill,” for two years.
Republicans have been pushing to cut nutrition programs to free up more funding for farmers whose livelihoods have been disrupted by higher prices and extreme weather, a “false choice,” according to Vince Hall, chief government relations officer at Feeding America.
The Hill’s Taylor Giorno tells us more about the five biggest lobbying battles of 2025 here.
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Welcome to The Hill’s Business & Economy newsletter, I’m Sylvan Lane — covering the intersection of Wall Street and Pennsylvania Avenue.
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Key business and economic news with implications this week and beyond:
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Morgan Stanley to exit global climate coalition
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Morgan Stanley on Thursday announced its departure from a coalition of banks that aims to target net-zero emissions through lending and investment, the fifth group to do so in recent weeks.
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Ron Johnson: Reducing ‘out of control’ government spending is not only ‘reasonable but doable’
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Sen. Ron Johnson (R-Wis.) doubled down on a conservative plan to reduce government spending with new proposals outlined in an op-ed published by The Wall Street Journal.
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Jobless claims fall to lowest level in 8 months to end 2024
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The number of people filing new applications for unemployment insurance fell to the lowest level since last April as the job market showed signs of strength within a broader cooling off in employment conditions.
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Upcoming news themes and events we’re watching:
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- The House votes to elect a Speaker amid GOP divisions Friday morning.
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Branch out with more stories from the day:
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SAN JUAN, Puerto Rico (AP) — Jenniffer González Colón was sworn in Thursday as Puerto Rico’s new governor …
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Business and economic news we’ve flagged from other outlets:
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- China Hits Dozens of U.S. Companies With Trade Controls (NYT)
- Mortgage demand dives nearly 22% to end 2024 (CNBC)
- How four missing bolts ruined Boeing’s 2024 (WaPo)
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Top stories on The Hill right now:
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A federal appeals court ruled this week the Federal Communications Commission (FCC) lacked the authority to restore certain net neutrality rules last year, handing a blow to FCC Democrats and Biden administration officials who pushed for revived open internet measures. Read more
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A dozen hard-line House conservatives are demanding a host of amorphous commitments from Speaker Mike Johnson (R-La.) to win their support Friday, throwing his leadership tenure into uncertainty less than 24 hours before the vote. Read more
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You’re all caught up. See you tomorrow!
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