Warren has a plan for that

Elizabeth Warren debuted a new proposal this morning to “end lobbying as we know it” ahead of a speech in New York tonight, POLITICO’s Alex Thompson and I report. The plan would place myriad new restrictions on K Street, including banning lobbyists from making political contributions, hosting fundraisers and bundling for candidates — a provision likely to face legal challenges if it were ever enacted. (Warren and most of the rest of the Democratic presidential field have already sworn off lobbyists’ money in their campaigns.)

— Warren’s plan would scrap the “20 percent rule,” which allows those who devote less than 20 percent of the time spent working for a given client to lobbying to avoid registering to lobby. (The 20 percent rule is the reason Neil Bush, the son of former President George H.W. Bush, hasn’t registered as a lobbyist despite meeting with Secretary of State Mike Pompeo, Rep. Steve Chabot (R-Ohio) and congressional staffers on behalf of a Kuwaiti company, for instance.)

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The plan would effectively ban many lobbyists from serving in government by forcing them to deregister as lobbyists for two years before entering government, with limited exceptions. “Corporate lobbyists” — it’s unclear exactly how the term is defined — would have to wait six years before serving in government — no exceptions, no waivers.

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Warren’s proposal [...] would codify the restrictions in law, rather than imposing them by executive order.

There are also proposals to require more disclosure from “political intelligence” firms and to restrict “companies’ ability to hire former senior government officials, in an apparent attempt to crack down on former lawmakers and administration officials who advise corporate America without doing anything that would force them to register as lobbyists.”

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“The plan would also make it illegal to lobby for foreign governments, political parties and companies — a huge blow to K Street.

  Politico

K Street needs a huge blow.