Politico tax policy reporter Benjamin Guggenheim has been awarded the Everett McKinley Dirksen Award for Distinguished Reporting of Congress for his groundbreaking investigation, “The 401(k) industry owns Congress’: How lawmakers quietly passed a $300 billion windfall to the wealthy.”
The award is given by the National Press Foundation.
The Dirksen award recognizes journalists whose work demonstrates thoughtful appraisal and insight into the workings of the U.S. Congress and represents the highest standards of journalism.
Through a year-long investigation, Guggenheim revealed the political dynamics that have led Congress, with support from both parties, to pass retirement legislation that will cost taxpayers up to $659 billion annually by 2027 while primarily benefiting high-income earners.
His special report uncovered a sophisticated lobbying operation where industry groups drafted legislation, held fundraisers at luxury resorts and channeled millions in campaign contributions to key lawmakers since the mid-1990s.
Guggenheim’s reporting further showed that during the 2022 election cycle leading up to the passage of the law known as the Secure 2.0 Act, the American Benefits Council’s members companies provided $98.6 million to lawmakers’ campaigns, while other industry groups increased their PAC spending by up to eight times since the early 2000s.
“It took what could have been a very good accountability story about the inner workings of Congress and the influence of lobbyists on Capitol Hill to another level by taking readers into offices where some major policy decisions are crafted and to cocktail parties where deals are discussed,” judges said. “It not only showed the power of the industry’s influence, but explained its impact, its relevance and its reach to readers … [including] how policies led to even more disparities between low-income retirees and wealthy ones.”
