Libya Defense Spending, T-Paw's Fund-raising and More in Capital Eye Opener: March 29
Your daily dose of news and tidbits from the world of money in politics:
LIBYA CAUSES DEFENSE CUTS BACKTRACKING: In the continuing debate over the federal budget, defense spending has been a frequent target for Democratic and Republican lawmakers. But Politico reports that the current unrest in Libya looks to stop the momentum for defense cuts in its tracks.
Multiple congressional Republicans have publicly come out against defense spending cuts, arguing that it'd be unsound to reduce spending in the middle of a military conflict. While many of these lawmakers have previously voiced their concerns over reduced defense spending, U.S. involvement in Libya is expected to give them additional ammunition.
The backlash comes after multiple high-profile efforts to cap defense spending levels. Governmental officials and politicos ranging from Defense Secretary Robert Gates to Mississippi Gov. Haley Barbour have called for reductions in federal defense spending, but the legislative response has been mixed.
For instance, the House voted to drop an amendment that would allocate $450 million for an alternate jet engine long opposed by Pentagon and White House officials. However, other amendments focusing on aircraft funding and the Joint Forces Command made it past lawmakers, despite outside opposition.
With its longstanding lobbying presence, the defense sector isn't likely to accept such cuts without a fight.
During 2010, the defense sector -- which encompasses aerospace, electronics and other defense sub-industries -- spent more than $138.8 million on federal-level lobbying.
Defense-related companies including Boeing, Lockheed Martin, United Technologies, General Dynamics and Northrop Grumman each cracked the eight-figure mark in terms of federal lobbying expenditures during 2010.
LIBYA CAUSES DEFENSE CUTS BACKTRACKING: In the continuing debate over the federal budget, defense spending has been a frequent target for Democratic and Republican lawmakers. But Politico reports that the current unrest in Libya looks to stop the momentum for defense cuts in its tracks.Multiple congressional Republicans have publicly come out against defense spending cuts, arguing that it'd be unsound to reduce spending in the middle of a military conflict. While many of these lawmakers have previously voiced their concerns over reduced defense spending, U.S. involvement in Libya is expected to give them additional ammunition.
The backlash comes after multiple high-profile efforts to cap defense spending levels. Governmental officials and politicos ranging from Defense Secretary Robert Gates to Mississippi Gov. Haley Barbour have called for reductions in federal defense spending, but the legislative response has been mixed.
For instance, the House voted to drop an amendment that would allocate $450 million for an alternate jet engine long opposed by Pentagon and White House officials. However, other amendments focusing on aircraft funding and the Joint Forces Command made it past lawmakers, despite outside opposition.
With its longstanding lobbying presence, the defense sector isn't likely to accept such cuts without a fight.
During 2010, the defense sector -- which encompasses aerospace, electronics and other defense sub-industries -- spent more than $138.8 million on federal-level lobbying.
Defense-related companies including Boeing, Lockheed Martin, United Technologies, General Dynamics and Northrop Grumman each cracked the eight-figure mark in terms of federal lobbying expenditures during 2010.