WASHINGTON–American International Group announced yesterday it is halting its multimillion-dollar lobbying activities while it works to restore profitability and pay off the $85 billion government loan that is now its financial lifeline.
AIG said it has decided to “suspend all lobbying activities in conjunction with a review of all AIG expenditures and activities.”
According to the Center of Responsive Politics, in the 30 months from Jan. 1, 2006 to June 30, 2008 AIG spent $26 million for outside lobbyists. CRP said this year, AIG has spent $6.6 million on in-house lobbying activity, while outside lobbyists have been paid $768,000.
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