WASHINGTON – Large technology companies are making provision for a new administration and new investigation into their businesses with a proven strategy: opening their pocketbooks.
Facebook Inc. and Amazon. com Inc. surpassed all other U.S. companies in federal lobbying last year, according to a Wall Street Journal analysis of the latest revelations. This was the second consecutive year that they spent all other companies, including stalwarts like AT&T Inc. and Boeing Co.
Facebook, which faces federal and state antitrust laws, as well as a series of hearings summoning CEO Mark Zuckerberg to Washington, spent nearly $ 20 million in 2020, an increase of nearly 18% from the previous year.
Amazon, which witnessed CEO Jeff Bezos for the first time before Congress and continued to expand its business as a government contractor, spent about $ 18 million last year, about 11% compared to 2019 spending.
“We were clear that the internet needs updated regulations, and therefore we will continue to support new rules that address the current reality online,” a Facebook spokesman said.