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Committee for Economic Development

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The Committee for Economic Development (CED) is an independent, non-profit, non-partisan American think tank based in Washington, DC. Its membership consists of some 200 senior corporate executives and university leaders. According to its mission statement, the organization is "dedicated to policy research on the major economic and social issues of our time and the implementation of its recommendations by the public and private sectors."

CED's goal is to advance sound public policies that promote long-term and broad-based economic growth and opportunity for all Americans. Major policy issues that CED deals with include education reform, campaign finance reform, international trade and development, Social Security, economic and fiscal policy, workforce development, health care, legal and regulatory reform.

History

CED was founded in 1942 by a group of business leaders led by Paul G. Hoffman, President of the Studebaker Corporation; William Benton, co-founder of Benton & Bowles advertising firm; and Marion B. Folsom, treasurer of Eastman Kodak Company. CED's first mission was to help the U.S. economy transition from war to peace-time prosperity. At the end of World War II, CED played a key role in garnering support among the American business community for the Marshall Plan. CED's work also influenced the Bretton Woods Agreement.

In the 1980s, CED became the first national business organization to become actively involved in education policy. Viewing students as future leaders, citizens, and workers, CED saw improving educational outcomes as vital to economic growth. In recent years, CED has been in the forefront of efforts to quantify the economic benefits of investments in high-quality early education, and in building support among the business community for voluntary, universal preschool.

CED has also played a critical role in the campaign finance reform debate. As the only national business group to actively support the soft money ban, CED played a decisive role in building support among the business community for passage of the Bipartisan Campaign Reform Act of 2002.

CED has also been active on national budget and fiscal policy. Concerned about the enormous and ballooning federal budget deficit and its effect on long-term economic growth and standard of living, CED has been in the vanguard of the effort to rein in the deficit and to effect action ensuring responsible and forward-looking budget policy in Washington.

Organization

CED's current president is Charles Kolb. The current co-chairs of CED are W. Bowman Cutter, Managing Director, Warburg Pincus LLC; and Roderick M. Hills, Partner, Hills, Stern & Morley LLP.

CED is led by its 200 member Board of Trustees. CED's Executive Committee is the organization's primary executive body. The Research and Policy Committee (R&P) directs the research agenda at CED.

Once the R&P approves of a research project, a subcommittee of Trustees is formed to direct the research and formulation of policy recommendations. CED's staff, often assisted by outside experts, conducts the research and prepares drafts for review by the subcommittee. Once the subcommittee is satisfied with the findings and recommendations, they are submitted for final approval. A majority of members of the R&P and the applicable subcommittee must approve of the work in order for it to be approved as an official "policy statement." CED's policy statements are its flagship publications, constituting the official policy positions of CED.

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