Economic Policy Institute

Economic Policy Institute

Formation	1986
Founder	Jeff Faux, Lester Thurow, Ray Marshall, Barry Bluestone, Robert Reich, Robert Kuttner
Type	Public policy think tank
Location	1333 H Street Washington, DC
Coordinates	38°54′01″N 77°01′52″W / 38.900373°N 77.031047°WCoordinates: 38°54′01″N 77°01′52″W / 38.900373°N 77.031047°W
President	Lawrence Mishel
Revenue	$6,573,520 (2010)[1]
Slogan	Research and ideas for shared prosperity
Website	www.epi.org

The Economic Policy Institute is a 501(c)(3) non-profit American think tank based in Washington, D.C. that carries out economic research and analyzes the economic impact of policies and proposals. The EPI describes itself as a non-partisan think tank that "seeks to include the needs of low- and middle-income workers in economic policy discussions".^[2] It is affiliated with the labor movement,^[3] and is usually described as presenting a liberal^[4] viewpoint on public policy issues. The EPI has a sister organization, the EPI Policy Center, which is a 501(c)(4) organization for advocacy and education. The EPI advocates for policies favorable for low- to moderate-income families in the United States.^[5] The EPI also assesses current economic policies and proposes new policies that EPI believes will protect and improve the living standards of working families.^[2]

History

EPI was founded in 1986 by economists Jeff Faux, Lester Thurow, Ray Marshall, Barry Bluestone, Robert Reich, and Robert Kuttner.^[2] EPI's president is Lawrence Mishel.

Areas of research

EPI’s work and activities cover twelve issue areas: education; federal budget, deficits, and taxes; health; jobs, wages, and living standards; immigration; labor policy; macroeconomic performance; public investment; race and ethnicity; regulation; retirement; trade and globalization.^[6]

EPI projects

The State of Working America

The State of Working America is EPI’s flagship publication and has been published regularly since 1988. The book examines the U.S. economy’s impact on the living standards of working families by analyzing data on family incomes, wages, jobs, unemployment, wealth, and poverty.^[7] EPI launched StateofWorkingAmerica.org in 2011, putting the publication online for the first time.

Economic Analysis and Research Network

EPI coordinates the Economic Analysis and Research Network (EARN), a nationwide network of state and regional multi-issue advocacy, policy, and research organizations that operate on a local level. EARN includes 57 organizations in 43 states.^[8]

Program on Race, Ethnicity, and the Economy

EPI launched the Program on Race, Ethnicity, and the Economy (PREE) in 2008 to address economic inequalities and challenges faced by racial and ethnic minorities in the U.S. PREE’s goal is to advance policies that help working people of color participate fully in and gain equitably from the American economy.^[9]

Broader, Bolder Approach to Education

EPI launched the Broader, Bolder Approach to Education (BBA) in 2008. BBA is a national campaign that acknowledges the impact of social and economic disadvantages on both schools and students and proposes evidence-based policies to remedy conditions that limit many children’s readiness to learn.^[10]

Policy proposals

In July 2012, EPI and the AFL-CIO, Center for Community Change, Leadership Conference on Civil and Human Rights, National Council of La Raza and SEIU proposed a budget plan titled Prosperity Economics, a counter to the Republican Party's Path to Prosperity budget plan. The Prosperity Economics plan suggests that major public investment in areas like infrastructure is needed to jump-start the economy.^[11]

In response to the debate over the United States fiscal cliff, EPI economist Josh Bivens advocated taxing the rich, writing "Given this rise in [income] inequality, it makes sense that much of the future burden of reducing budget deficits should be borne by those who have benefited the most from economic trends in recent decades."^[12]

Funding

Eight labor unions made a five-year funding pledge to EPI at its inception: AFSCME, United Auto Workers, United Steelworkers, United Mine Workers, International Association of Machinists, Communications Workers of America, Service Employees International Union, and United Food and Commercial Workers Union.^[13] According to EPI, about 29% of its funding between 2005 and 2009 was supplied by labor unions and about 53% came from foundation grants.^[2]

In the 1980s, EPI took money from the Tobacco Institute—a now-defunct tobacco industry trade group—to oppose excise taxes on the tobacco industry's behalf. The Tobacco Institute worked with groups like EPI "to support the release of studies, editorials, press briefings, and testimony against regressive excise taxes" that would negatively impact the tobacco industry's bottom line if passed.^[14]

References

1. "Economic Policy Institute". Charity Navigator. Retrieved 27 November 2012.
2. "About". Economic Policy Institute. Retrieved 27 November 2012.
4. Isidore, Chris (2011-08-02). "Debt ceiling deal won't restart hiring". CNN Money. Retrieved 2011-08-04. The Economic Policy Institute, a liberal think tank, estimates that the spending cuts will cost the economy 323,000 jobs in 2012.
   • Griffiths, Meredith (2009-06-09). "Experts see the light in US job figures". Australian Broadcasting Corporation. Retrieved 2011-08-04. But Heidi Shierholz from liberal think-tank, the Economic Policy Institute, says it is not all doom and gloom.
   • Calmes, Jackie (2008-11-23). "Rubinomics Recalculated". The New York Times. Retrieved 2011-08-04. 'Everyone recognizes that we’re looking at deficits of considerable magnitude,' said Jared Bernstein, an economist at the liberal Economic Policy Institute.
   • Weisman, Jonathan (2011-04-22). "Jared Bernstein, Biden's Economic Adviser, to Leave". Wall Street Journal. Retrieved 2011-08-04. Mr. Bernstein joined the Obama transition team after advising the campaign from his perch at the Economic Policy Institute, a liberal think tank.
   • Wallsten, Peter (2009-02-16). "Liberals do a slow burn over Obama's go-slow approach". Los Angeles Times. Retrieved 2011-08-04. Obama's new language was 'a little disturbing,' said Jeff Faux, an economist at the liberal Economic Policy Institute, which has received funding from labor unions.
5. "Study: Income inequality continues to grow in La.". CBS. 2012-11-15. Retrieved 28 November 2012.
6. "Areas of research". Economic Policy Institute. Retrieved 27 November 2012.
7. "State of Working America". EPI Bookstore. Economic Policy Institute. Retrieved 27 November 2012.
8. "About the Economic Analysis and Research Network (EARN)". Economic Analysis and Research Network. Retrieved 27 November 2012.
9. "Race and Ethnicity". Economic Policy Institute. Retrieved 27 November 2012.
10. "Broader Bolder Approach to Education". Economic Policy Institute. Retrieved 27 November 2012.
11. Izadi, Elahe (2012-07-31). "Liberal Groups Counter GOP's Economic Agenda With New Plan". National Journal. Retrieved 28 November 2012.
12. Milani, Kate (2012-11-20). "Economists React: The Fiscal Cliff 'Can't Be Fully Avoided'". Wall Street Journal. Retrieved 28 November 2012.
13. Taylor, Paul (19 February 1987). "Analyzing Alternatives In Labor's Think Tank;Liberal Economists Study Government's Role". The Washington Post. Retrieved 23 July 2012.
14. Balbach, Edith D.; Campbell, Richard B. (Aug 2009). "Union Women, the Tobacco Industry, and Excise Taxes". American Journal of Preventative Medicine. 37 (2): S121-S125. doi:10.1016/j.amepre.2009.05.011. PMC 2712937. PMID 19591750.