Many companies from various sectors made considerable lobbying investments during the negotiation process of the different bills, both in the United States House of Representatives and in the Senate, that culminated in the passage of the PROMESA law, according to official spending reports published by Open Secrets.

The areas of activity of these entities in Puerto Rico are basically the pharmaceutical, biotechnology and engineering, insurance, health, and financial sectors, as well as other organizations that defend the rights of citizens and workers. Although it is known that these firms lobbied for at least one of the bills that would end in the approval of PROMESA on June 30, 2016, their specific objectives are unknown.

Pharmaceuticals were a driving force

In the pharmaceutical sector, one of the main drivers of the Puerto Rican economy despite the repeal of Section 936 in 2006, Abbvie Inc., Johnson & Johnson, Merck <><> Co., Bristol-Myers Squibb And Cardinal Health, all with headquarters, interests and operations in Puerto Rico, lobbied for PROMESA./p

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In the case of Abbvie Inc., which maintains an important manufacturing plant in the municipality of Barceloneta, it lobbied directly as a company for a large number of bills, among which were 'H.R. 4900, H.R. 5278 <><><><> S. 2328, PROMESA (the three bills that comprised the PROMESA negotiation).' Although the total amount allocated was $1,700,000.00, the exact amount that was directed at this matter is not known because lobbying reports do not make mandatory this level of detail./p

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The company also used professional lobbying firms such as Capitol Tax Partners, LLP, the largest independent consulting firm in the United States, specializing in taxes and regulatory matters and where they spent $60,000, although the final amount used for PROMESA lobbying is not disclosed. They also used the Brownstein Hyatt Farber Schreck, LLP law firm, as well as W Strategies, LLC, a specialist in government relations and lobbying, both based in Washington DC./p

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Johnson Johnson, who manufactures pharmaceutical, diagnostic, therapeutic, surgical, biotechnology and personal hygiene products and is well-known in the island, directly spent some $2,040,000.00. Johnson <><> Johnson has operations in Guaynabo, Gurabo, Aguadilla and Manatí./p

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For its part, Merck <><><><><><><><> Co., another well-known manufacturer in Puerto Rico, with an office in Carolina and a plant in Las Piedras, hired DC-based lobbying and consulting firm The Nickles Group, LLC for $45,000 related to their PROMESA lobbying./p

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The consulting firm also served Bristol-Myers Squibb, headquartered in New York, which has two manufacturing plants in Humacao and Manatí. Bristol allocated a total of $60,000 for, among other objectives, lobbyig for 'Supervision of H.R. 5278, PROMESA, referring to the financial situation in Puerto Rico.'/p

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For its part, Cardinal Health, based in Guaynabo, spent $290,000 in various matters related to medical health but also in 'H.R. 5278, Law for the Supervision, Administration and Economic Stability of Puerto Rico (PROMESA).'/p

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Medtronic, an entity that describes itself as 'the largest independent developer of medical technology in the world,' spent $920,000.00 on lobbying including matters related to economic development in the island./p

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Like Merck <><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><> Co and Bristol-Myers Squibb, they hired The Nickles Group, LLC, who reported spending $60,000 on issues including 'HR 5278, PROMESA, regarding the financial status of Puerto Rico.' Medtronic currently has active operations in Villalba, Humacao, Juncos and Guaynabo./p

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strongLobbying by technology, energy and engineering companies/strong/p

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Technology, biotechnology, energy and engineering were some of the most dynamic sectors in their PROMESA lobbying. Californian Amgen Inc., together with United Technologies, AES Corporation, Honeywell International, Energy Answers Corporation, GDF Suez, Praxair Inc. and Excelerate Energy LLC were all players in the effort and have economic interests in Puerto Rico./p

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Amgen Inc. is a biotechnology firm headquartered in Thousand Oaks, California and with a plant in Juncos, which lobbied as a company for a total of $1,750,000.00. They have been involved since the first PROMESA-related bill filed by Republican Sean Duffy, from Wisconsin, and considered to be the father of PROMESA./p

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United Technologies, a conglomerate that includes a number of aerospace-related companies such as UTC Aerospace Systems, headquartered in North Carolina, and Otis, one of the world's most prestigious elevator companies, has a center in Santa Isabel specialized in the production of aerospace components./p

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One of the reports in Open Secrets reveals that United Technologies spent $2,330,000 in lobbying, including 'Puerto Rico Tax Provisions, HR 4900.' In another effort carried out shortly afterwards, they allocated another $2,208,000 for lobbying related to H.R.5278 (PROMESA)./p

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They also hired government consulting firm Republic Consulting, LLC, based in Hebron, Ky., to which they paid $30,000, in part for 'monitoring legislation to address the debt crisis of Puerto Rico (H.R. 5278, S. 2328).'/p

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This conglomerate has been right in the eye of the hurricane after having obtained from President-elect Donald Trump a promise of important fiscal benefits. The result of these negotiations could set a precedent that would allow multinationals to obtain, as decried by Democratic Senator Bernie Sanders, unfair benefits and tax exemptions against potential offshoring threats./p

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One of United Technologies' biggest competitors in the aerospace industry (though encompassing a multiplicity of diverse sectors) is Honeywell International, a Morristown, New Jersey-based business giant. In Puerto Rico, it has facilities and offices in Aguadilla, Moca and Guaynabo./p

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Honeywell also lobbied for PROMESA, acquiring the services of Washington-based The Duberstein Group Inc., which provided $90,000./p

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The energy sector also placed its bets in the great game of PROMESA. On the one hand, Excelerate Energy, a company based in Woodlands, Texas and dedicated to the liquefied natural gas (LNG) market, hired independent lobbying company Van Scoyoc Associates, which provided $50,000 in lobbying efforts described in the reports as 'Puerto Rico, LNG-related matters' and 'HR5278, Law for the Supervision, Administration and Economic Stability of Puerto Rico (PROMESA).'/p

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In addition, there's the contribution of Energy Answers Corporation (EAC), a New York business organization that's looking to establish a waste-to-energy plant in Areciboerator in Arecibo. EAC lobbied through SC Partners for a total of $10,000. One of the three points mentioned in the report is 'PROMESA (H.R. 5278) - Support for the provision of critical projects for the revitalization of Puerto Rico's infrastructure.'/p

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Another of the all-powerful energy conglomerates involved is Engie, this time through its subsidiary GDF SUEZ Energy North America Inc. According to its website, Engie is responsible for a number of energy companies spanning the US and Canadian markets, With commercial operations ranging from retail energy sales, energy supply to commercial, industrial and residential customers, natural gas production, distribution of liquefied natural gas, and generation and cogeneration of electricity. All of these areas are covered prominently in the PROMESA Law that gives priority to this type of project./p

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GDF Suez Energy lobbied for $ 70,000 for, among other matters related to the energy field, the following: 'H.R. 5278, PROMESA (Provisions relating to the supervision of the Electric Power Authority of Puerto Rico) './p

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Finally, Praxair Inc., considered the world's leading producer and supplier of carbon dioxide as well as one of the world's leading producers of all types of industrial gases, earmarked $120,000 to address, among other issues, bills S 2328 and HR 5278, predecessors of PROMESA./p

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strongParticipation of financial groups and insurers/strong/p

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The financial sector, which is directly tied to the controversial Puerto Rico bond offerings that during the last 25 years undermined the island's public coffers, also took an active part in the negotiations prompted by PROMESA./p

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Massachusetts Mutual Life Insurance, Citygroup, New York Life Insurance Company (NYLIC), Ambac Financial Group and Allstate Insurance make up the bulk of this economic participation./p

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With officesin Ponce de León Avenue in Santurce, Massachusetts Mutual Life Insurance is a powerful financial group that spent $1,070,000 for influencing an extensive list of bills or issues. Regarding Puerto Rico, it focused its objectives on those measures related to the restructuring processes of the Puerto Rican economy and its hypothetical access to Chapter 9 or Bankruptcy Law, an option that was one of the alternatives being pushed in the negotiations that led to PROMESA, and which was rejected by Republican and conservative forces. Another report reflects a expenditure of an additional $750,000 on these matters./p

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The company also hired professional lobbying group Davis Harman LLP, a law firm based in Washington DC and specializing in helping financial institutions and large corporations find effective tax-related tools. Their constant lobbying efforts reveals the importance of the Puerto Rican problem for the company, since they also procured the services of government relations firm Porterfield, Fettig Sears, LLC, and of law firm Kramer Levin Naftalis <><><><><><><> Frankel LLP./p

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In turn, the financial and banking group Citigroup, with presence on the island under its subsidiary Citibank Puerto Rico, lobbied through Republic Consulting, LLC for a total of $50,000.00, for matters related to the bills that would shape PROMESA./p

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Another entity that influenced the negotiation of these two pieces of legislation was New York Life Insurance Company, the largest life insurance company in the United States and one of the largest life insurers in the world. They dis it directly and also through consulting firm Harbinger Strategies, LLC./p

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On the other hand, Ambac Group, which is suing the Puerto Rico government over debt payment issues, allocated $150,000 for lobbying on matters pertaining the PROMESA bills. At the same time, Allstate Insurance, with offices in San Juan, gave $50,000 to Washington-based lobbying firm Peck Madigan Jones./p