EPIC, a new conservative research group, aims to prevent future budget crisis.
A New Think Tank Aims to Educate Lawmakers and Staff on Fiscal Policy
A new upstart think tank, the Economic Policy Innovation Center (EPIC), founded by former Trump official Paul Winfree, is on a mission to educate lawmakers and staff about the country’s fiscal challenges. With a soft launch last month and plans for a hard launch in September, EPIC is set to make its mark on Capitol Hill and the national stage.
EPIC, led by Winfree as president and CEO, currently has two employees with backgrounds in economic policy but has ambitious plans to expand its team over the next six months. What sets EPIC apart from other policy groups is its focus on long-term economic questions and behind-the-scenes work on Capitol Hill, rather than flashy public outreach campaigns.
Instead of tackling the biggest issue of the day, EPIC aims to prepare and educate on major policy battles that lie ahead. Winfree explains, “What we’re going to be working on and thinking about is more longer-term issues. Where do we want to go? Looking out into the future, and ultimately, how do we get there, and then how do we build the coalitions and policy movement to be where we want to be out in five, 10, 15, 20, 25 years.”
Preparing for the Fiscal Cliff in 2025
One of EPIC’s immediate focuses is the fiscal cliff that Congress and the White House will face in 2025, shortly after the next election cycle. This fiscal cliff revolves around the expiration of tax provisions within the 2017 Tax Cuts and Jobs Act, commonly known as the “Trump tax cuts” or “Republican tax cuts.” EPIC plans to work closely with policymakers to navigate this significant challenge.
Winfree emphasizes the importance of proactive planning, stating, “Ultimately, you have a series of fiscal events that are on the horizon that all are meaningful for the fiscal trajectory of this country but also create opportunities for economic policy reforms that are larger than the scale of those cliffs themselves.”
EPIC’s Approach to Policy
Winfree, an economic historian with a Ph.D., brings a unique perspective to EPIC. He believes in taking a longer-term approach to policy, drawing from historical economic events to inform decision-making. EPIC follows a straightforward sequence: educating policymakers, getting the policy right, and then considering the politics. By hitting these steps correctly, EPIC aims to achieve successful policy outcomes.
EPIC’s Growing Team
EPIC is actively expanding its team and is seeking individuals with academic backgrounds in economics and experience in policymaking. Brittany Madni, the executive vice president, brings Capitol Hill experience, having served as the deputy chief of staff and legislative director for Rep. Ashley Hinson (R-IA). William Beach, EPIC’s senior fellow in economics, previously served as the commissioner for the Bureau of Labor Statistics.
Looking Ahead
EPIC has already been in touch with Republican presidential campaigns for 2024, establishing closer relations with some campaigns. Winfree is optimistic about the future, stating, ”I see lots of opportunities over the next year and actually the next few years to ultimately build EPIC up beyond our plan to ramp up within the next six months to a year.”
EPIC’s funding comes from a variety of sources, including foundations and free-market advocates. Winfree is encouraged by the positive feedback and excitement from the donor community, indicating a promising future for EPIC.
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