Removing of lobbyist by any publicly traded company commits the political representative to communicate with local government and community about industry requirements that directly impact their local economy.
Industry representatives that are paid large sums of money to push for policies that explicitly line the pockets of the conglomerate through company specific tax cuts, the malice maneuvering of safety and health guidelines, deregulation, media manipulation and pricing fixing/gouging; although it’s “illegal” is does not help local communities only stakeholders. Example, big pharma has consistently spent the most money lobbying legislators, while also being the most sued industry with roughly 100 billion dollars paid out in the last 15 years.
All entities should not lose the right to lobby. Not for profit organizations and smaller privately held organizations should not lose that ability.