Economic Policy Institute

SOURCE:  Wikipedia, captured 2020-08-10

The Economic Policy Institute (EPI) is a 501(c)(3) non-profit, non-partisan 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-income and middle-income workers in economic policy discussions." It is affiliated with the labor movement and is usually described as presenting a left-leaning and pro-union 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 they say are favorable for low-income to moderate-income families in the United States.

History

EPI was founded in 1986 by economists Jeff Faux,  Lester Thurow,  Ray Marshall,  Barry Bluestone,  Robert Reich,  and Robert Kuttner. EPI's president is Thea Lee. Lee succeeded Lawrence Mishel as president in January 2018.

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.

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."

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. According to EPI, about 29% of its funding between 2005 and 2009 was supplied by labor unions and about 53% came from foundation grants.

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.