WASHINGTON – The big tech companies are preparing for a new management and a new scrutiny of their business with a time-tested strategy: open their pockets.
Facebook Inc. and Amazon. com Inc. outperformed all other American companies in federal lobbying spending last year, according to an analysis by the Wall Street Journal of the most recent disclosures. It was the second consecutive year that they spent more than all other companies, including firms like AT&T Inc. and Boeing Co.
Facebook, facing federal and state antitrust suits, as well as a series of hearings summoning CEO Mark Zuckerberg to Washington, spent nearly $ 20 million in 2020, an increase of almost 18% over the previous year.
Amazon, which saw CEO Jeff Bezos testify before Congress for the first time and continued to push to expand its business as a government contractor, spent about $ 18 million last year, an increase of about 11% compared to 2019 spending.
“We make it clear that the Internet needs updated regulations, which is why we will continue to express our support for the new rules that address today’s online reality,” said a Facebook spokesman.