During today’s House Financial Services Committee hearing featuring Consumer Financial Protection Bureau (CFPB) Director Richard Cordray, Rep. Ted Budd (R-NC) appeared to imply that the “revolving door” between K Street and the government was a problem at the CFPB, and questioned whether Director Cordray supported an executive order signed by President Trump “imposing an unprecedented five-year lobbying ban on certain officials who leave the executive branch.”
It was an odd line of questioning when you consider that Rep. Budd doesn’t seem to have a problem with the revolving door in his own office, having hired lobbyists for senior positions on his staff–they don’t even have to take a five-year break from lobbying. As of April 2017, Budd’s deputy chief of staff and his legislative director are both former lobbyists from Heritage Action for America–the 501(c)4 sister organization of Heritage Foundation, a powerful right-wing think tank.
- As of April 2017, Rep. Budd employed James C. Braid as his deputy chief of staff and Alexander D. Vargo as his legislative director. [ Ted Budd Profile, Legistorm website, accessed April 5, 2017.]
- As of December 31, 2016, “Alex” Vargo was listed as a lobbyist for Heritage Action for America. [Heritage Action for America, Lobbying Report, 2016 Q4, #18, filed January 20, 2017, accessed April 5, 2017.]
- As of December 31, 2015, James Braid was listed as a lobbyist for Heritage Action for America. [Heritage Action for America, Lobbying Report, 2015 Q4, #23, filed January 20, 2016, accessed April 5, 2017.]