Wednesday, March 20, 2013

K Street Chill Sends Lawmakers to Think Tanks

It seems that lukewarm hiring at lobby shops is sending many former Members of Congress to look for posts at think tanks as they wait for the market to heat up.

Here is what Roll Call reports:
K Street shops, many in revenue decline for the past couple of years, can no longer afford the luxury of a high-priced former member. Senators usually don’t entertain offers worth less than $1 million, and House members’ threshold is typically about $700,000. And it’s an investment with no guaranteed payoff. Ever.
Still, it’s a bet that some firms are willing to wager, especially when it comes to top-tier, big-name talent off the Hill. And in recent weeks, the revolving door has deposited former Republican Sens. Jon Kyl of Arizona and Scott Brown of Massachusetts plus former Nebraska Democratic Sen. Ben Nelson into plum positions. Ditto for former Texas Republican Sen. Kay Bailey Hutchinson, former California Democratic Rep. Howard Berman and a select few of their colleagues who have set up shop in law firms or other outfits.
But that’s a small percentage of the more than 100 lawmakers who found themselves, voluntarily or not, out of work in early January. Many of them seem missing in action — think former Missouri Republican Rep. Todd Akin, who hasn’t tweeted since Nov. 6.
Among the hot prospects in line for corporate jobs, former independent Sen. Joseph Lieberman of Connecticut is still considering his options, sources said. Lieberman last week joined Kyl in an American Enterprise Institute project, but that is not likely to be his only gig.
Here is a previous Think Tank Watch post discussing Sen. Lieberman's new position at AEI.

Here is a previous Think Tank Watch post which lists Members of Congress who work at think tanks.