American Council for Capital Formation

The American Council for Capital Formation (ACCF)

Background

The American Council for Capital Formation (ACCF) is a Washington, DC-based free market think tank that prides itself on “economic growth through sound tax, regulatory, and environmental policies.”1Capital Formation (Newsletter) (PDF), American Council for Capital Formation. Vol. 35, No. 1 (January-February 2010). Archived February 10, 2016. Archived .pdf on file at DeSmog.

The group has called itself a “well-connected spokesman for American business in Washington,” a “key player” in policy circles, and “one of the most influential organizations operating behind the scenes” in the Washington policymaking arena.2Media Room”, American Council for Capital Formation. Archived February 1, 2012. Archived .pdf on file at DeSmog.

ACCF’s president and CEO, Mark A. Bloomfield has been described as “a well-connected spokesman for American business” and “one of the most influential figures operating behind the scenes in the Congress.”3MARK A. BLOOMFIELD” (PDF), American Council for Capital Formation. Archived February 10, 2016. Archived .pdf on file at DeSmog.

ACCF is known for two studies, produced by the industry and Koch-funded National Association of Scholars, which critics have said feature a “distorted analysis” of proposed legislation to combat climate change.4National Association of Manufacturers,” Sourcewatch. Accessed February 11, 2016. 5NAM/ACCF: Distorting their own distorted analysis of climate legislation,” Switchboard, September 10, 2009. Archived February 11, 2016. Archive URL: https://archive.ph/5rwEU 6Miles Grant. “Pay no attention to footnote #5,” Grist, August 5, 2009. Archived February 11, 2016. Archive URL: https://archive.ph/xT61Z

ACCF Center for Policy Research

In 1973, ACCF created a 501(c)3 nonprofit entitled the American Council for Capital Formation Center for Policy Research that “brings together academics, policymakers, business executives and the media to discuss important new research on economic and environmental policies and explore the public policy implications of the research.”7ACCF Center for Policy Research: Overview,” American Council for Capital Formation. Archived February 11, 2016. Archive URL: https://archive.ph/3Npvv

Stance on Climate Change

ACCF does not deny the existence of global warming, as the ACCF statement on Energy and Climate Change Policy shows:

“Because energy use and economic growth go hand in hand, policymakers should develop a flexible, long-term approach to reducing the growth of greenhouse gases (GHGs). This will require a global effort based on technological innovation and technology transfer to developing countries where GHG emissions growth is most rapid. In addition, U.S. tax policies should be reformed to reduce the cost of capital for new energy efficient and pollution control technologies.”8Policy Areas: Energy and Climate Change Policy,” American Council on Science and Health. Archived February 10, 2016. Archive URL: https://archive.ph/7X3yh

However, in the past ACCF’s has denounced government policies that could be used to reduce greenhouse gas emissions as not worth the cost. For example, ACCF commented on regulating greenhouse gases under the Clean Air Act:

“Expanding the jurisdiction of the CAA to regulate domestic emissions of carbon and other GHGs will provide no net benefits to environmental quality while posing serious risks to our nation’s competitiveness, and even hampering our ability to deploy the advanced technologies which will be necessary to deal effectively with the challenges posed by Greenhouse Gas (GHG) emissions. ”9Re: The American Council for Capital Formation’s Comments on Advance Notice of Proposed Rulemaking: Regulating Greenhouse Gases under the Clean Air Act, 73 Fed. Reg. 44354 (July 30, 2008)” (PDF), American Council for Capital Formation, November 28, 2008. Archived February 10, 2016. Archived .pdf on file at DeSmog.

Funding

The following is based on data archived at the Conservative Transparency (CT) project combined with original 990 research by DeSmog.10American Council for Capital Formation,” Conservative Transparency. Data retrieved June 29, 2016.

View the summary below, or see the attached spreadsheet for additional information on ACCF funding by year (.xlsx). Note that not all CT values have been verified by DeSmog.11American Council for Capital Formation,” Conservative Transparency. Data retrieved June 29, 2016.

DonorTotal
Exxon Mobil$1,564,523
Claude R. Lambe Charitable Foundation$475,000
American Petroleum Institute$350,000
Searle Freedom Trust$275,000
Sarah Scaife Foundation$125,000
Charles G. Koch Charitable Foundation$125,000
John M. Olin Foundation$100,000
American Natural Gas Alliance$37,500
True Foundation$12,300
John William Pope Foundation$10,000
William E. Simon Foundation$2,500
Grand Total$3,076,823

Exxon Funding

*According to ExxonSecrets, the ACCF has actually received over $1.6 million from ExxonMobil for “climate change activities.”12FACTSHEET: AMERICAN COUNCIL FOR CAPITAL FORMATION CENTER FOR POLICY RESEARCH, ACCF,” ExxonSecrets. Archived February 28, 2017.

Koch Funding

According to the most recent data available from Greenpeace, Koch foundations have donated $600,000 to the American Council for Capital Formation between 1999 and 2015:13American Council on Capital Formation (ACCF): Koch Industries Denial Front Group,” Greenpeace USA. Archived March 13, 2017. Archive.is URL: https://archive.is/9HEXx

YearCharles Koch FoundationClaude R. Lambe Charitable FoundationGrand Total
1999 $10,000$10,000
2005 $25,000$25,000
2006 $40,000$40,000
2007 $50,000$50,000
2008 $100,000$100,000
2009 $100,000$100,000
2010 $50,000$50,000
2012 $100,000$100,000
2013$75,000 $75,000
2015$50,000 $50,000
Grand Total$125,000$475,000$600,000

Other Funders

According to a 2004-05 document covering supporters of the American Council for Capital Formation, ACCF Center for Policy Research, and International Council for Capital Formation (PDF), the ACCF and their affiliate organizations have also received funding from other organizations including energy-sector and automobile companies:142004-05 Supporters of the American Council for Capital Formation, ACCF Center for Policy Research, and International Council for Capital Formation,” CorportateEurope.org. Archived May 12, 2008. Archived .pdf on file at DeSmog.

ADP Foundation
Advanced Medical Technology Association
Alliance of Automobile Manufacturers
American Benefits Council
American Business Conference
American Century Investments
American Chemistry Council
American Farm Bureau Federation
American Forest & Paper Association
American Gas Association
American Petroleum Institute
American Wholesale Marketers Association
AMT-The Association for Manufacturing Technology
Associated Equipment Distributors
Association of Home Appliance Manufacturers
Automotive Aftermarket Industry Association
BellSouth Corporation
Campbell Soup Company
Center for Energy & Economic Development
Cly-Del Manufacturing Company
Conference of State Bank Supervisors
Contran Corporation
DaimlerChrysler Corporation
Driscoll Foundation
Edison Electric Institute
Equipment Leasing Association of America
Ernst & Young
Exxon Mobil Corporation
Fidelity Investments
Financial Services Roundtable
Fisher Scientific International, Inc.
FMC Corporation
FORATOM
Ford Motor Company
General Dynamics Corporation
General Mills
General Motors Corporation
Harry S. Flemming Foundation
Hillside Capital Incorporated
Institute for Global Economic Growth
Institute of Scrap Recycling Industries
John L. Loeb, Jr. Foundation
Kinsey Interests, Inc.
Loeb Partners Corporation
Malek Family Trust Foundation
Marathon Oil Corporation
Matrix Capital Markets Group, Inc.
Merrill Lynch & Co., Inc.
Metals Service Center Institute
Microsoft Corporation
Milliken & Company
Morgan Stanley
Morgenthaler Management Corp.
National Association of Manufacturers
National Association of Real Estate Investment Trusts
National Beer Wholesalers Association
National Electrical Contractors Association
National Marine Manufacturers Association
National Rural Electric Cooperative Association
Nationwide Insurance & Financial Co.
New York Stock Exchange Foundation
Newspaper Association of America
Nordberg Family Fund
Nuclear Energy Institute
Oracle Corporation
Pepco Holdings, Inc.
Portland Cement Association
Principal Financial Group
Qwest Communications, Inc.
Securities Industry Association
Small Business Entrepreneurial Council
Southern Company
T. Rowe Price & Associates
The Aluminum Association, Inc.
The Arthur Loeb Foundation
The Jeffrey Company
The Prudential Foundation
The Real Estate Roundtable
The Whitehead Foundation
Theragenics Corporation
Toyota Motor North America, Inc.
Tudor Investment Corporation
Twenty-First Securities Corporation
TXU Business Services
Uniform & Textile Service Association
Westinghouse Electric Company
Weyerhaeuser Company
Winthrop, Inc.

990 Forms

According to the ACCF’s 2014 tax forms, the organization recorded $1,046,464 in total revenue, paid out $1,031,772 in salaries, and had total assets of $1,411,457.

Key People

Board of Directors

ACCF’s Officers and Board of Directors has included former high-ranking politicians (predominantly Republican) in the U.S. government along with representatives of industry associations.

Name199719981999200020012002200320042005200720082009201120122015201615Directors & Advisors,” ACCF. Archived February 11, 2016. Archive URL: https://archive.ph/3bXmN2018Description
Richard W. RahnYYYYYYYYYYYYYYYYYChairman, Improbable Success Productions
Steven A. Wechsler YYYYYYYYYYPresident and Chief Executive Officer, National Association of Real Estate Investment Trusts
Mark A. BloomfieldYY YYYY YYYPresident and Chief Executive Officer, American Council for Capital Formation
Susan K. Neely YYPresident and Chief Executive Officer, American Beverage Association
Richard D. Shelby YPartner, Capitol Hill Consulting Group
Dave McCurdy YYYY Y President and Chief Executive Officer, American Gas Association
M. Christine Jacobs YYYYYYYYY Chief Executive Officer and President, Theragenics Corporation
Gary C. Hufbauer Y Nonresident Fellow, Peterson Institute for International Economics
Donald L. LucasYYYYYYYYYYYYYY Venture Capitalist
Frederic V. MalekYYYYYYYYYYYYYY Founder and Chairman, Thayer Capital Partners, L.P.
George P. ShultzYYYYYYYYYYYYYY former Secretary of State, Secretary of Treasury, Director of Office of, Budget and Management and Secretary of Labor
John C. WhiteheadYYYYYYYYYYYYYY former Deputy Secretary of State
Kenneth M. DubersteinYYYYYYYYYYYYYY former Chief of Staff to President Reagan
Robert S. StraussYYYYYYYYYYYYYY former U.S. Trade Representative
William H. Gray, IIIYYYYYYYYYYYYYY former Chairman, House Committee on the Budget
James R. Jones YYYYYYYYYYYYY former U.S. Ambassador to Mexico and Member of Congress
Glenn English YYYYYYYYYYYY Chief Executive Officer, National Rural Electric Cooperative Association
Bill Archer YYYYYYYYYY former Chairman, House Committee on Ways and Means
Gerald L. Parsky YYYYYYYYY Chairman, Aurora Capital Group
Mark A. Weinberger YYYYYYYYY Global Chairman & CEO, Ernst & Young
Thomas R. Kuhn YYYYYYYYY President, Edison Electric Institute
Charles W. Stenholm YYYYYY former Member of Congress
Don Nickles YYYYYY former Chairman, Senate Committee on the Budget
John Engler YYYYYY former Governor State of Michigan
Jim Kolbe YYYY former Member of Congress
Michael G. Oxley YYYY former Chairman, House Committee on Financial Services
Donna A. Harman YYY President and Chief Executive Officer, American Forest & Paper Association
Andrew Card YYY Y former Chief of Staff to President George W. Bush and Secretary of Transportation
Robert W. GalvinYYYYYYYYYYYYY Chairman Emeritus Motorola, Inc.
L. William SeidmanYYYYYYYYYYYY former Chairman, Federal Deposit Insurance Corporation
William D. RuckelshausYYYYYYYYYYYY former Administrator, U.S. Environmental Protection Agency
Charls E. WalkerYY YYYY Founder and Chairman Emeritus, American Council for Capital Formation. Former Deputy Secretary of the Treasury
Kyle E. McSlarrow YYYY President and CEO, National Cable & Telecommunications Association
Margo Thorning YYYY Senior Economic Policy Advisor
William J. McDonough YYY Vice Chairman & Special Advisor to the Chairman, Merrill Lynch & Co., Inc.
Marc E. LackritzYYYYYYYYYYY former President and Chief Executive Officer, Securities Industry & Financial Markets Association
Red Cavaney YYYYYYYYYY President and Chief Executive Officer, American Petroleum Institute
Frank L. (Skip) Bowman YYY President and Chief Executive Officer, Nuclear Energy Institute
David Rehr YY President and Chief Executive Officer, National Association of Broadcasters
Bob Stallman YYYYY President, American Farm Bureau Federation
Frederick L. Webber YYYY YYY President and Chief Executive Officer, Alliance of Automobile Manufacturers
Lloyd BentsenYYYYYYYYY former Secretary of the Treasury
J. Barry Griswell YYYY Chairman, President and Chief Executive Officer, Principal Financial Group
J. Stephen Larkin YY President, The Aluminum Association, Inc.
John J. ByrneYYYYYYYY Chairman, White Mountains Insurance Group, Ltd.
William E. BrockYYYYYYYY former U.S. Senator
Mark Heesen YYYY President, National Venture Capital Association
Joe F. Colvin, II YY President and Chief Executive Officer, Nuclear Energy Institute
Barry K. RogstadYYYYYYY President, American Business Conference
James B. GrahamYYYYYYY Chief Executive Officer, Viztec, Inc.
Matthew P. FinkYYYYYYY President, Investment Company Institute
Ronald W. ReadmondYYYYYYY Private Investor
W. Henson MooreYYYYYYY President, American Forest & Paper Association
William D. Witter YYYYYY William D. Witter, Inc.
Harry S. Flemming YYYYY Chairman, Advantor Holding Company
John M. Derrick, Jr. YYYY Chairman and Chief Executive Officer, Pepco Holdings Incorporated
Josephine S. Cooper Y President and Chief Executive Officer, Alliance of Automobile Manufacturers
David J. DruryYYYYY Chairman, Principal Financial Group
Herbert S. Winokur, Jr.YYYYY Chairman and Chief Executive Officer, Capricorn Holdings, Inc.
Kenneth L. LayYYYYY Chairman, ENRON
Paul A. VolckerYYYYY former Chairman, Board of Governors of the Federal Reserve System
H. Onno RudingY YYY Vice Chairman and Director, Citibank
David B. Duncan Y Partner, Arthur Andersen LLP
M.B. Oglesby, Jr. YYY former Assistant to President Reagan for Legislative Affairs
John H. Martinson Y Chairman, National Venture Capital Association
Carroll A. Campbell, Jr.YYY President and Chief Executive Officer, American Council of Life Insurance
Edward F. MitchellYYY Chairman of the Board, Potomac Electric Power Company
James E. Rogers, Jr.YYY President and Chief Executive Officer, Cinergy Corporation
M. Kathleen Behrens Y President, National Venture Capital Association
Allen J. KroweYY Texaco Inc.
Jack D. RehmYY Chairman and Chief Executive Officer, retired, Meredith Corporation
James EricsonYY President and Chief Executive Officer, Northwestern Mutual Life Insurance Company
John S. NolanYY Partner, Miller & Chevalier, Chartered
Philip J. CarrollYY President and Chief Executive Officer, Shell Oil Company
Brian H. Dovey Y President, National Venture Capital Association
Carl D. ThomaY President, National Venture Capital Association
Charles J. DiBonaY President, American Petroleum Institute

Board of Advisors

Name2015201616Directors & Advisors,” ACCF. Archived February 11, 2016. Archive URL: https://archive.ph/3bXmN20172018Description
Andrew CardYYYYformer Chief of Staff to President George W. Bush and Secretary of Transportation
Bill ArcherYYYYformer Chairman, House Committee on Ways and Means
Charles W. StenholmYYYYformer Member of Congress
Don NicklesYYYYformer Chairman, Senate Committee on the Budget
Donald L. LucasYYYYVenture Capitalist
Frederic V. MalekYYYYFounder and Chairman, Thayer Capital Partners, L.P.
George P. ShultzYYYYformer Secretary of State, Secretary of Treasury, Director of Office of, Budget and Management and Secretary of Labor
Gerald L. ParskyYYYYChairman, Aurora Capital Group
James R. JonesYYYYformer U.S. Ambassador to Mexico and Member of Congress
Jim KolbeYYYYformer Member of Congress
Jim McCreryYYYYformer Member of Congress
Kenneth M. DubersteinYYYYformer Chief of Staff to President Reagan
Mark A. WeinbergerYYYYGlobal Chairman & CEO, Ernst & Young
Thomas R. KuhnYYYYPresident, Edison Electric Institute
Steve Moore YYformer Wall Street Journal Editorial Board Member
Tom Ridge YYformer Secretary of Homeland Security, Governor of Pennsylvania and Member of Congress
Joe Lieberman YFormer United States Senator and Democratic Vice Presidential nominee in 2000
Donna A. HarmanYY President and Chief Executive Officer, American Forest & Paper Association
John EnglerYY former Governor State of Michigan
Michael G. OxleyYY former Chairman, House Committee on Financial Services
Jo Ann Emerson Y Chief Executive Officer, National Rural Electric Cooperative Association
Richard D. Shelby Y Partner, Capitol Hill Consulting Group
Dave McCurdyY President and Chief Executive Officer, American Gas Association
Glenn EnglishY Chief Executive Officer, National Rural Electric Cooperative Association
John C. WhiteheadY former Deputy Secretary of State
Robert S. StraussY former U.S. Trade Representative
William H. Gray, IIIY former Chairman, House Committee on the Budget

Officers & Staff

Name2002200820102011201220142015201617Officers & Staff,” ACCF. Archived February 11, 2016. Archive URL: https://archive.ph/jxXdx20172018Description
Margo ThorningYYYYYYYYYYSenior Economic Policy Advisor
Mark A. BloomfieldYYYYYYYYYYPresident and Chief Executive Officer, American Council for Capital Formation
Mike Burita YYYYYYYYDirector of Communications
Pinar Cebi Wilber YYYYYYYYChief Economist
Hamideh Kashaninejad YYYYTreasurer
Timothy M. Doyle YYVice President of Policy and General Counsel
George David Banks YY YExecutive Vice President
Drew Bond YSenior Fellow & Director of Energy Innovation Programs, ACCF Center for Policy Research
Frédérique Schreuder YExecutive Assistant and Director of Events
Tony Nash YY Senior Economic Adviser for International Economic Policy
Aaron Weston Y Senior Fellow and Director of Nuclear Energy Programs, ACCF Center for Policy Research
Robert Dillon Y Vice President of Communications
Ashley Laing Y Membership & Events Manager
Jeff Crater Y Senior Fellow & Director of U.S. Defense Industry and Economy
Marie Sanderson Y Senior Fellow & Director of State and Local Economic Policy
Ashley Mitchell Y Membership and Events Manager
John Maguire Y YY Vice President for Strategic Planning
Tracy Ellis YY Vice President of Membership
Mari Lee DunnYYY Senior Vice President and Secretary-Treasurer, American Council for Capital Formation
Charls E. WalkerYY Founder and Chairman Emeritus, American Council for Capital Formation. Former Deputy Secretary of the Treasury
Ernestine R. Johnson Y Assistant Secretary-Treasurer

Distinguished Fellows (Center for Policy Research)

Name1994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201618Center for Policy Research Fellows,” ACCF. Archived February 11, 2016. Archive URL: https://archive.ph/6Jh0RDescription
Robert J. Gordon YStanley G. Harris Professor in the Department of Economics, Northwestern University
Michael J. Boskin YY Former Chairman, Council of Economic Advisers, George H.W. Bush
John B. Taylor Y Mary and Robert Raymond Professor of Economics, Stanford University
Robert E. Lucas, Jr. Y 1995 Nobel Laureate in Economics, University of Chicago
Allan H. Meltzer Y Allan H. Meltzer University Professor of Political Economy, Carnegie Mellon University
William M. Gentry Y Professor of Economics, Williams College
Jagdish V. Bhagwati Y University Professor, Columbia University
Edward C. Prescott YY 2004 Nobel Laureate in Economics, Arizona University
N. Gregory Mankiw YY former Chairman, President’s Council of Economic Advisers, President George W. Bush
Charls E. Walker Y Founder and Chairman Emeritus, American Council for Capital Formation. Former Deputy Secretary of the Treasury
Ernestine R. Johnson Y Assistant Secretary-Treasurer
Margo Thorning Y Senior Economic Policy Advisor
Mari Lee Dunn Y Senior Vice President and Secretary-Treasurer, American Council for Capital Formation
Mark A. Bloomfield Y President and Chief Executive Officer, American Council for Capital Formation
Dale W. Jorgenson YY Samuel W. Morris University Professor, Harvard University
James M. Poterba YY President and Chief Executive Officer, National Bureau of Economic Research
Douglas J. Holtz-Eakin YYY former Director, Congressional Budget Office
Gary C. Hufbauer Y Nonresident Fellow, Peterson Institute for International Economics
Henry D. Jacoby Y Environmental Policy Fellow, 1998. Pounds Professor of Management, Massachusetts Institute of Technology
Richard L. Schmalensee Y Gordon Y Billard Professor of Economics and Management, Massachusetts Institute of Technology
Thomas Horst Y TCW Fellow, 1997. Former director of the International Tax Staff, U.S. Department of the Treasury Managing Director, Horst, Frisch, Clowery & Finan
Gary W. Yohe Y Environmental Policy Fellow, 1996. Professor of Economics, Wesleyan University
John B. Shoven Y Charles Schwab Professor of Economics, Stanford University
Arnold C. HarbergerYY Distinguished Professor of Economics, University of California at Los Angeles
B. Douglas BernheimY Professor of Economics, Stanford University
R. Glenn HubbardY former Chairman, President’s Council of Economic Advisers, President George W. Bush

Board of Scholars (Center for Policy Research)

Name19971998199920002001200220042005201619Center for Policy Research Scholars,” ACCF. Archived February 11, 2016. Archive URL: https://archive.ph/G5XBv20172018Description
Arnold C. HarbergerYYYYYYYYYYYDistinguished Professor of Economics, University of California at Los Angeles
B. Douglas BernheimYYYYYYYYYYYProfessor of Economics, Stanford University
Charles McLure, Jr.YYYYYYYYYYYSenior Fellow (Emeritus), Hoover Institution, Stanford University
Michael J. BoskinYYYYYYYYYYYFormer Chairman, Council of Economic Advisers, George H.W. Bush
Robert E. HallYYYYYYYYYYYSenior Fellow, Hoover Institution, and professor of Economics, Stanford University
Roger B. PorterYYYYYYYYYYYIBM Professor of Business and Government, Harvard University
John B. ShovenYYY YYYYYYYCharles Schwab Professor of Economics, Stanford University
James M. PoterbaYYY Y YYYYYPresident and Chief Executive Officer, National Bureau of Economic Research
Burton G. Malkiel YYYYYChemical Bank Chairman’s Professor of Economics, Princeton University
Laurence H. Meyer YYYYYformer Governor, Federal Reserve Board
Rudolph G. Penner YYYYYformer Director Congressional Budget Office
Gary C. Hufbauer YYYYYNonresident Fellow, Peterson Institute for International Economics
R. Glenn Hubbard YYYYYformer Chairman, President’s Council of Economic Advisers, President George W. Bush
N. Gregory Mankiw YY YYYYformer Chairman, President’s Council of Economic Advisers, President George W. Bush
Dale W. JorgensonYYYYYY YYYYSamuel W. Morris University Professor, Harvard University
Edward C. Prescott YYYY2004 Nobel Laureate in Economics, Arizona University
Harvey S. Rosen YYYYformer Chairman, President’s Council of Economic Advisers, President George W. Bush
John D. GrahamYYYY YYYformer Administrator, Office of Information and Regulatory Affairs, Office of Management and Budget
Douglas J. Holtz-Eakin YYYformer Director, Congressional Budget Office
Jagdish V. Bhagwati YYYUniversity Professor, Columbia University
John B. Taylor YYYMary and Robert Raymond Professor of Economics, Stanford University
Robert E. Lucas, Jr. YYY1995 Nobel Laureate in Economics, University of Chicago
William M. Gentry YYYProfessor of Economics, Williams College
Jason Furman YYFormer Chairman, Council of Economic Advisers, President Barack Obama
Kenneth B. Medlock III YYJames A. Baker, III, and Susan G. Baker Fellow in Energy and Resource Economics, Rice University
Robert Hahn YYSmith School Director of Economics, Oxford University
Robert J. Gordon YYStanley G. Harris Professor in the Department of Economics, Northwestern University
William A. Galston YYformer Deputy Assistant for Domestic Policy, President William Clinton
Chad P. Bown YReginald Jones Senior Fellow, Peterson Institute for International Economics
Kevin A. Hassett YYYYY Director of Economic Policy, American Enterprise Institute
Allan H. Meltzer YY Allan H. Meltzer University Professor of Political Economy, Carnegie Mellon University
James A. Baker, III Y Fellow in Energy and Resource Economics, Rice University
Susan G. Baker Y Fellow in Energy and Resource Economics, Rice University
Alan S. ManneYYYYYYYY Professor Emeritus, Operations Research, Stanford University
Ed ZschauYYY YYYY Senior Lecturer of Business Administration, Harvard University
Murray L. WeidenbaumYYY YYYY Mallinckrodt Distinguished University Professor, Washington University
Richard L. SchmalenseeY Y YYYY Gordon Y Billard Professor of Economics and Management, Massachusetts Institute of Technology
Sidney L. Jones YYY former Assistant Secretary for Economic Policy, U.S. Department of the Treasury
David F. BradfordYYYYYYY Professor of Economics and Public Affairs, Princeton University
Lawrence H. GoulderYYYYYY Associate Professor of Economics, Stanford University

Board of Trustees (Center for Policy Research)

Name199719982000200120022003200420072008Description
Ernest S. Christian, Jr.YYYYYYYYYAttorney-at-Law
Manuel H. JohnsonYYYYYYYYYformer Vice-Chairman, Board of Governors of the Federal Reserve System
Charls E. WalkerYY YYYFounder and Chairman Emeritus, American Council for Capital Formation. Former Deputy Secretary of the Treasury
Margo ThorningYY YYYSenior Economic Policy Advisor
Mari Lee DunnYY YYYSenior Vice President and Secretary-Treasurer, American Council for Capital Formation
Mark A. BloomfieldYY YYYPresident and Chief Executive Officer, American Council for Capital Formation
Josephine S. Cooper YY President and Chief Executive Officer, Alliance of Automobile Manufacturers
Maxine C. ChampionYYYYYYY Vice-President, Government and International Relations, Nestle USA, Inc.
Thomas D. CampbellYYYYYYY President, Thomas D. Campbell & Associates
Larry W. PollockYYYYYY Vice-President and Director of Taxes, Weyerhaeuser Company
Paul R. HuardYYYYY Senior Vice-President, Policy and Communications, National Association of Manufacturers
Rudolph G. PennerYYYYY former Director Congressional Budget Office
George N. CarlsonYYY Partner, Arthur Andersen & Co.
Kathleen B. CooperYYY Chief Economist, Exxon Corporation
Thomas White YY Chairman and Chief Executive Officer, Enron Ventures Corp.
John P. RenshawYY
Theodore R. EckYY Chief Economist, Amoco Corporation
Norman B. TureY President, Institute for Research on the Economics of Taxation

Actions

September 25, 2019

The ACCF claimed that a new poll it conducted in collaboration with Morning Consult proved that Americans do not view climate change as a top political priority, and that they distrust government to solve the problem.20Jessica R. Towhey. “Climate Change Not a Top Priority, New Poll Finds,” InsideSources, September 25, 2019. Archived September 26, 2019. Archive.is URL: https://archive.is/TSduK

When respondents were asked if they were willing to pay more in taxes, transportation, food, and electricity costs to fund a “complete shift to renewable energy,” most responded unfavorably.21Jessica R. Towhey. “Climate Change Not a Top Priority, New Poll Finds,” InsideSources, September 25, 2019. Archived September 26, 2019. Archive.is URL: https://archive.is/TSduK

Eighty-one percent of those polled, however, reported feeling “worried” about the environment, while 57% felt that climate change was caused by human activity.22Jessica R. Towhey. “Climate Change Not a Top Priority, New Poll Finds,” InsideSources, September 25, 2019. Archived September 26, 2019. Archive.is URL: https://archive.is/TSduK

January 2016

Ahead of the Iowa caucuses, ACCF sponsored an ad portraying ethanol as an unclean fuel, and opposing an ethanol mandate policy:23(Press Release). “Major New Iowa Statewide TV Ad Buy Shines Spotlight on Corn Ethanol’s Environmental Toll,” PRNewswire, January 25, 2016. Archived February 11, 2016. Archive URL: https://archive.ph/o5QBm


ACCF Executive Vice President George David Banks also denounces corn in the Telegram: “As we hear more about the Renewable Fuel Standard this primary season, it’s important to keep in mind the reality of the corn ethanol mandate: less energy, higher costs and more emissions. And if that sounds like a bad deal, well, that’s because it is.”24George David Banks. “Big Corn wins, state loses,” Telegram.com, January 24, 2016. Archived February 11, 2016. Archive URL: https://archive.ph/vlOFw

August 30, 2015

ACCF’s Senior Economic Policy Advisor Margo Thorning wrote an Op-Ed article in The Times-Tribune advocating for an end to oil export bans:25Margo Thorning. “End ban on oil exports, boost state’s economy,” thetimes-tribune.com, August 30, 2015. Archived February 11, 2016. Archive URL: https://archive.ph/PTYhb

“Allowing the exportation of crude oil will only further incentivize production and drive the Pennsylvania economy for decades to come,” Thorning writes.

December 14, 2011

ACCF’s Senior Vice President and Chief Economist Margo Thorning testified before the Senate Subcommittee on Energy, Natural Resources and Infrastructure on the role of government in clean energy subsidies.26Clean Energy Tax Incentives: What Role Should Government Play?The American Council on Capital Formation, December 14, 2011. Archived February 11, 2016. Archive URL: https://archive.ph/YQ33i

Thorning concludes that clean energy industries including those associated with wind, solar power, biofuel and ethanol are “not essential for U.S. economic and job growth and they are unlikely to provide benefits commensurate with their costs.”

According to Thorning, “increased access to domestic onshore and offshore oil and gas reserves, including shale gas, could strongly boost U.S. economic recovery, manufacturing and job growth as well as increasing energy security.”27Clean Energy Tax Incentives: What Role Should Government Play?The American Council on Capital Formation, December 14, 2011. Archived February 11, 2016. Archive URL: https://archive.ph/YQ33i

March 2008

The ACCF’s Vice President, Margo Thorning, teamed up with the National Association of Manufacturers, the US Chamber of Commerce and a think tank called the Alliance for Energy and Economic Growth, to conduct a four-State speaking tour to discredit the proposed America’s Climate Security Act authored by US Senators Joe Lieberman and John Warner.28”ACCF/NAMState by State Analyses of the Economic Impact of the Lieberman-Warner Climate Security Act” (PDF), American Council for Capital Formation, October, 2008. Archived November 26, 2008. Archived .pdf on file at DeSmog.

2009

According to Greenpeace, ACCF has partnered twice with the National Association of Manufacturers to produce and disseminate “distorted economic analyses that overstate the costs of climate legislation.” The group has also been prominently featured at US Chamber of Commerce-organized forums on climate.29American Council on Capital Formation (ACCF): Koch Industries Denial Front Group,” Greenpeace USA. Archived March 13, 2017. Archive.is URL: https://archive.is/9HEXx

The ACCF/NAM studies have been debunked more than once.30NAM/ACCF: Distorting their own distorted analysis of climate legislation,” Switchboard, September 10, 2009. Archived February 11, 2016. Archive URL: https://archive.ph/5rwEU 31Miles Grant. “Pay no attention to footnote #5,” Grist, August 5, 2009. Archived February 11, 2016. Archive URL: https://archive.ph/xT61Z

American Council for Capital Formation Contact & Location

As of June 2016, the American Council for Capital Formation (ACCF) listed the following contact information on its website:32Contact,” ACCF. Archived June 29, 2016. Archive URL: https://archive.ph/FtHH6

American Council for Capital Formation
1001 Connecticut Avenue NW, Suite 620
Washington, DC 20036
Email: [email protected]
Phone: (202) 293-5811
Fax: (202) 785-8165

ACCF Association Council

The ACCF previously listed an “Association Council” of organizations on its website:

ACCF Association Council Member200420052008
Advanced Medical Technology Association Y
Alliance of Automobile ManufacturersYYY
American Benefits CouncilYYY
American Business ConferenceYYY
American Chemistry CouncilYY
American Farm Bureau FederationYYY
American Forest & Paper AssociationYYY
American Gas AssociationYYY
American Gear Manufacturers Association Y
American Petroleum InstituteYYY
American Wholesale Marketers Association Y
Associated Equipment Distributors Y
Association of Home Appliance ManufacturersYYY
Automotive Aftermarket Industry AssociationYY
Edison Electric InstituteYYY
Equipment Leasing Association of AmericaYYY
Family Company GroupYYY
Financial Services RoundtableYYY
Futures Industry Association Y
Grocery Manufacturers of America, Inc.YY
Investment Company Institute Y
Metals Service Center InstituteYYY
Motor & Equipment Manufacturers AssociationYY
National Association of ManufacturersYYY
National Association of Real Estate Investment TrustsYYY
National Beer Wholesalers AssociationYYY
National Electrical Contractors Association, Inc.YY
National Marine Manufacturers AssociationYYY
National Rural Electric Cooperative AssociationYYY
Newspaper Association of AmericaYY
North American Association of Food Equipment Manufacturers Y
Nuclear Energy InstituteYYY
Portland Cement Association Y
Rubber Manufacturers AssociationYY
Securities Industry AssociationYYY
Small Business & Entrepreneurial Council Y
Small Business Survival CommitteeYY
The Aluminum Association, Inc.YY
The Association for Manufacturing Technology (AMT) Y
The Ohio Society of CPAs Y
The Real Estate RoundtableYYY
Uniform & Textile Service AssociationYY

Other Affiliations

Hoover Institution
A number of individuals associated with the American Council for Capital Formation (ACCF) are also affiliated with the Hoover Institution, a public policy think tank located at Stanford University focusing on conservative and libertarian ideas.

Below are some examples:

Social Media

Other Resources

Resources

Related Profiles

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Alfred (Al) Pekarek Credentials Ph.D., University of Wyoming (1974).“Faculty/Staff,” St. Cloud State University. Archived May 28, 2010. Archive.is URL: https://archive.is/dA53K ...
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