2018 Annual Report Letter from the President Dear Friends and Supporters

advancing liberty www.pacificresearch.org from coast to coast 2018 annual report letter from the president Dear friends and supporters,

2018 was a year of great of Medicare for All, an even Business Daily – in addition to accomplishment for PRI. more comprehensive look commentaries and appearances at a complete takeover by in media outlets nationwide. Throughout the year, the ideas government of our health care put forward by PRI’s scholars system. This would mean that In April, I was pleased to inspired positive changes in all private coverage would be receive an honorary doctoral policies related to health care, outlawed. degree from Pepperdine K-12 education, the economy, University in recognition energy and the environment, The book will also include of my leadership in health and issues of concern to profiles of patients who have care policy. I also delivered Californians. However, free- suffered under single-payer the 2018 commencement market principles all over the systems in Canada and the address to the graduates of country came under sharp U.K. These systems result in Pepperdine’s School of Public attack with the rise of so- long waits for care, rationed Policy, which aired nationally called “Democratic socialism.” care, doctor shortages, and on C-Span. higher and new taxes to 2018 year in review pay for the system. Health Additionally, PRI’s Center care is looking to be the for Health Care published PRI’s Center for Health Care major domestic policy issue numerous reports and briefings was a national leading voice in the 2020 presidential promoting free-market health educating the American election. I am writing this care policies. Among them people about the dangers of book to counter progressives’ were studies calling for the single-payer health care or arguments touting a complete repeal of the medical device Medicare for All—the latest government takeover of our tax, changes to fix the broken name for single payer. health care system. The Medicare competitive bidding American people need to be process, and reforms to open Encounter Books released educated on the realities of the biosimilars market. in March 2018 my latest such a system. Broadside, The False Promise In September, PRI welcomed of Single-Payer Health Care, I traveled the country giving Dr. Henry Miller as a Senior which offers a thorough speeches, and meeting with Fellow in Health Care. Over examination of single-payer policymakers and legislators the course of his career, systems in Canada and the to discuss solutions to our most recently at Stanford’s United Kingdom and uses health care issues. As well, I Hoover Institution, Henry real stories to debunk myths participated in several high- has conducted vital research promulgated by progressives profile debates with leading on junk science, genetic about the benefits of opponents of market-based engineering, GMOs, and “Medicare for All.” health care reform. emerging viral diseases. At PRI, he is continuing In 2020, Encounter will also Throughout the year, I his important research and publish my new paperback published my regular columns writing on a broad spectrum of book False Premise, False in Forbes.com, the Washington scientific and medical issues. Promise: The Disastrous Reality Examiner, and Investor’s continued PRI’s Center for Business and Economics published the latest in the Beyond the New Normal series showing how strong economic growth can become a reality again through market-based policies. In “The 15 Percent Solution: Defining the Affordable Level of Government,” our Senior Fellow Dr. Wayne Winegarden determined that Congress can maximize growth by limiting spending to an optimal level – 15 percent of national income.

PRI’s Center for Education published Lance Izumi’s latest book, An American Education Agenda. It offers 15 federal, state, and local policy reforms to improve America’s policy briefs in January. In by the Bay” blog. A highlight current education system and “Good Intentions,” Center was the new “Free Markets expand school choice options. for California Reform Fellow 101” column by PRI Fellow The book was released with a Kerry Jackson argues that in Business and Economics special policy briefing at the California policymakers Damon Dunn, where he State Capitol in Sacramento, should reform government regularly makes free market held in conjunction with anti-poverty programs to economics more relatable to PRI’s celebration of National remove incentives against our everyday lives. School Choice Week in work while embracing private January. Lance also delivered charities and expanding job PRI’s weekly “Next Round” a speech to the Liberty opportunities in the state’s podcast featured interviews Forum of Silicon Valley on poorest communities. with scholars, national and An American Education Agenda state policymakers, and media and his 2017 book The Corrupt An op-ed by Kerry in the Los voices exploring free-market Classroom, which was broadcast Angeles Times on poverty in ideas. Notable guests included nationwide on C-Span. California received national George Gilder, Michael attention in the Drudge Report Anton, Andrew Puzder, PRI’s Center for the and other national publications. State Senate Republican Environment published two Kerry also published regular Leader Patricia Bates, groundbreaking studies in commentaries in California former Assembly Republican 2018, each of which drew publications exploring the Leader Connie Conway, and statewide and national media state’s major fiscal and social Democratic Strategist Steven attention. In “Costly Subsidies challenges. Maviglio. for the Rich,” Dr. Wayne Winegarden analyzed the On pension reform, PRI filed PRI’s work is especially impact of government funded an amicus brief in Cal Fire v. important in these challenging electric car subsidies. His CalPERS – one of two major and turbulent times, as strong, research found that 79 percent court cases concerning aspects free-market voices like ours are of subsidies were claimed of the 2013 pension reform law needed to combat the growing by those making more than and its efforts to curb benefit popularity of socialism and to $100,000 per year. Citing increases. In March 2019, a inspire policymakers to enact Wayne’s research, there is a state appellate court upheld free-market solutions to the renewed effort in Congress to the Legislature’s repeal of a many problems facing our state eliminate these giveaways to law granting public employees and nation. the wealthy. the opportunity to purchase additional service credit, In 2019, PRI celebrates its In “Legislating Energy or unearned service credit. 40th anniversary. Thanks to Poverty,” Wayne explores Additionally, PRI released a your generous support, we how big-government energy new pension chartbook by Dr. will continue to lead the fight policies adopted in California Wayne Winegarden showing to restore the core American and New York increase the that – using a more honest principles of opportunity for energy burdens of those living accounting method - the state’s all, individual liberty, and free in poor, rural, and minority public pension crisis had grown enterprise to the Golden State communities. to nearly $1 trillion. and the nation in 2019 and beyond. PRI’s Center for California Online, PRI scholars Reform released the latest in published daily free-market its “California Ideas in Action” commentaries on our “Right center for health care

mission

PRI proposes market-based policy reforms that would provide greater access to care, improve quality, and increase affordability. PRI reveals the failure of a single-payer government-run model for health care, drawing particularly on the problems with the Canadian system. publications Pipes continued writing her bi-weekly columns for Forbes, Investor’s Business The False Promise of Single-Payer Daily and The Washington Examiner’s Health Care (Encounter Books), by “Beltway Confidential” blog and was 414 Sally C. Pipes, March 2018. interviewed for dozens of radio and television programs and print and Media “Promoting Access and Lowering digital publications. In April 2018, Citations Costs in Health Care: The Case of she received an honorary doctoral Empowering Pharmacists to Increase degree from Pepperdine University in Adult Vaccination Rates,” by Dr. recognition of her leadership in health Wayne Winegarden, care policy. April 2018. 326 PRI’s Dr. Wayne Winegarden “Letting Pharmacies Administer authored several new studies, papers, Op-eds Vaccines Will Save Patients Time and op-eds, and gave numerous and Money” (animated video to media interviews promoting policies accompany study), by Dr. Wayne that support the continued viability Winegarden, April 2018. and vitality of the U.S. biomedical and pharmaceutical industries, to 113 “Impediments to a Stronger the benefit of patients and overall Radio Biosimilars Market: An Infliximab economic growth. Case Study,” by Dr. Wayne and TV Winegarden, June 2018. In September 2018, PRI welcomed nationally-renowned scholar and Interviews “Reforming CMS’ Competitive researcher and former Hoover Bidding Process to Improve Quality Institution fellow Dr. Henry Miller and Sustainability,” by Dr. Wayne as a Senior Fellow at the Center for Winegarden, July 2018. Health Care. Over the course of his career, Dr. Miller has conducted 6 “What Will You Bid?” (animated vital research on complex issues like video to accompany CMS competitive genetic engineering and emerging Blog Posts bidding study), August 2018. viral diseases.

“The Benefits from Repealing the podcast Medical Device Tax,” by Dr. Wayne Winegarden, October 2018. highlights • Tim Rice, Manhattan Institute impact – Could New York’s Single- Payer Plan Be Exported to PRI’s President and CEO Sally Pipes California? (December 12, 2018) published The False Promise of Single- • Dr. Henry Miller – Just How Payer Health Care, an Encounter “Authentic” Are The “Natural” Books Broadside exploring the Products You’re Buying? many problems with single-payer in (September 24, 2018) countries around the world and giving American patients a preview of what • Sally Pipes – The False Promise they could face if Medicare for All of Single Payer (March 5, 2018) becomes law. publications podcast highlights 259 An American Education Agenda: Top 15 Recommendations for Improving • Dr. Cara Stillings Candal, MEDIA CLIPS K-12 Education, by Lance Izumi, Director of Research and January 2018. Curriculum for the National Academy of Advanced impact Teacher Education – The 13 Fight for the Nation’s Lance Izumi released An Best Charter Schools OP-EDS American Education Agenda: Top (November 26, 2018) 15 Recommendations for Improving • Jim Manley, Pacific Legal K-12 Education – a book that offers Foundation – Protecting guidelines to reconstruct America’s Student Free Speech current education system and expand (October 22, 2018) 31 school choice options nationwide. The publication contains policy • Rebecca Friedrichs, radio & TV recommendations that would former Orange County empower parents by enabling them teacher – Janus Before interviews to make the best possible choice for Janus (October 8, 2018) their child’s education. • Pete Peterson, Dean of the Pepperdine School of Public As part of PRI’s celebration of Policy – Free Market Ideas 9 National School Choice Week, Izumi on Campus (May 21, 2018) spoke about An American Education • Lance Izumi, PRI Senior Blog Posts Agenda at an event in January at Director of the Center the State Capitol in Sacramento. for Education – What He discussed the importance of Can California Do to school choice and charter schools Expand School Choice? in providing the college preparation (January 22, 2018) students need to succeed in higher education.

Izumi’s writings on a wide variety of education issues, such as school choice, Common Core national education standards, and universal preschool, have appeared in major national and California publications. His speech to the Liberty Forum of Silicon Valley in Mountain View, California on The Corrupt Classroom and An American Education Agenda was broadcast nationally on C-SPAN. center for education

mission

The Center for Education works to restore to all parents the basic right to choose the best educational opportunities for their children. Through research and grassroots outreach, our scholars advance parental choice in education, high academic standards, charter schools, digital learning, teacher quality, and school finance reform. center for business and economics

mission

The Center for Business and Economics examines how the entrepreneurial spirit, the engine of economic growth and opportunity, is stifled by onerous taxes, regulations, and health care policies. Its scholars recommend comprehensive public policy reforms that will maintain a robust economy, ensure consumer choice, and spur creativity and innovation. publications historical growth patterns of the U.S. economy. The 15 Percent “Breaking Down Barriers: How Solution: Defining the Affordable Level of Government 1471 Occupational Licensing Reform Can Improve the Insurance makes the case that the U.S. MEDIA Markets, Benefit Consumers, and economy could regularly experience Expand Job Opportunities,” by Dr. 3-4 percent annual growth rates Citations Wayne Winegarden, or higher if Congress adopted January 2018. the growth-maximizing level of economic spending – “Breaking Down Barriers” 15 percent of national income. (animated video to accompany 42 study), February 2018. He also released a study, “Breaking Down Barriers”, OP-EDS Beyond the New Normal: How Much which argues that occupational Should We Spend?, “The 15 Percent licensing laws for insurance Solution: Defining the Affordable adjusters nationwide are leading Level of Government,” by Dr. to delays with victims of recent natural disasters in California 9 Wayne Winegarden, May 2018. and other states trying to quickly rebuild their lives. The study radio & TV “How Much Should We Spend?” makes the case that enacting interviews (animated video to accompany reforms to remove these “The 15 Percent Solution” study), burdensome requirements would open the marketplace, allow claims May 2018. to be processed faster, lower costs for consumers, and increase job 49 impact opportunities. BLOg posts PRI’s Center for Business and Economics continued its podcast work exploring how America’s highlights entrepreneurial spirit, the engine of economic growth and opportunity, • Andrew Puzder, former is stifled by onerous taxes, CEO of CKE Restaurants regulations, and other government – The Capitalist Comeback intrusion. (August 13, 2018) • George Gilder, author Dr. Wayne Winegarden – Technologies in the released the latest report in his Future (June 25, 2018) series, Beyond the New Normal: Establishing a Pro-Growth • Damon Dunn, PRI Economic Policy Environment, a fellow – Free Markets 101 multi-year series illustrating how (February 26, 2018) the coordination of pro-growth policies explain the different publications PRI released Legislating Energy Poverty in December 2018, a case study showing “Costly Subsidies for the Rich: how the big government approach to fighting climate change taken by 482 Quantifying the Subsidies Offered to California and New York hurts working Battery Electric Powered Cars,” by Dr. class and minority communities the MEDIA Wayne Winegarden, February 2018. hardest. The report was featured on Fox 11 News (Los Angeles), KPBS-TV (San Citations “Do Taxpayers Get a Good Deal at Diego), KNTV-TV (San Francisco), and ‘Government Cars ‘R Us?’” (animated KIEM-TV (Eureka), and in the Buffalo video to accompany study), News, Western Journal, Daily Caller, and February 2018. California Political Review. In addition, 76 two short promotional videos were “Recent Writings on California’s Water released along with the study. OP-EDS Future,” March 2018. In June 2018, PRI co-sponsored with the “Legislating Energy Poverty: A Institute for Humane Studies a policy Case Study of How California’s and research seminar, Embracing a Free- New York’s Climate Change Policies Market Energy Future, in Vancouver, 23 are Increasing Energy Costs and Canada. During the half-day seminar, Hurting the Economy,” by Dr. Wayne scholars and policy experts discussed how radio & TV Winegarden, December 2018. “green energy” policies threaten people’s individual freedom, private property interviews “Legislating Energy Poverty in rights, and economic livelihood. California” (video to accompany study), December 2018. In July 2018, Dr. Winegarden debated Ralph Cavanagh, an attorney at the 23 “Legislating Energy Poverty in New Natural Resources Defense Council, on York” (video to accompany study), Southern California Public Radio over Blog Posts December 2018. a California bill that sets the goal of a 100 percent clean energy supply in the impact state by 2045. PRI scholars also received statewide media attention on a California In February 2018, Dr. Wayne legislative proposal to ban the sale of gas- Winegarden released Costly Subsidies for powered cars in the state. the Rich: Quantifying the Subsidies Offered to Battery Electric Powered Cars, a report podcast highlights that assesses the value of electric car subsidies and connects these subsidies • Wayne Winegarden, PRI Senior to the income groups most likely to Fellow – Legislating Energy receive them. According to the results Poverty (December 17, 2018) of our research, 79 percent of electric vehicle plug-in tax credits are claimed by • Nick Loris, Heritage Foundation households with adjusted gross incomes – Why Are California Gas Prices of greater than $100,000 per year. The So High? (July 24, 2018) project’s findings were featured in dozens • Marlo Lewis, Competitive of publications nationwide, including Enterprise Institute – Embracing Investor’s Business Daily, the Orange a Free-Market Environmental County Register, American City Business Future (July 9, 2018) Journals, and RealClearMarkets. center for the environment

mission

The Center for the Environment reveals the dramatic and long-term trend towards a cleaner, healthier environment. It also examines and promotes the essential ingredients for abundant resources and environmental quality – property rights, markets, local action, and private initiative. center for california reform mission

The Center for California Reform seeks to reinvigorate California’s entrepreneurial, self-reliant traditions. It champions solutions in education, business, and the environment that work to advance prosperity and opportunity for all the state’s residents. publications In April, PRI released the results of a survey of business executives in industries highly desired by Good Intentions: How California’s Anti- California legislators (clean tech, Poverty Programs Aren’t Delivering 122 R&D, manufacturing, and other and How the Private Sector Can Lift industries), exploring why they aren’t More People Out of Poverty, by Kerry Media moving to California despite offers of Jackson, January 2018. subsidies and favorable government Citations “Pacific Research Institute Survey: policies. The executives cited high Why California’s Most Coveted costs of housing and real estate, the Industries Aren’t Coming to the state’s poor-quality education system, Golden State,” February 2018. and the expensive costs to do business here as the primary reasons why they 113 “Why are Highly-Desired Industries are not locating or expanding in the and Jobs Not Coming to California?” Golden State. Op-eds (animated video to accompany survey release), February 2018. Dr. Wayne Winegarden released “Reforming Public-Sector Pensions Reforming Public-Sector Pensions to to Improve California’s Fiscal Improve California’s Fiscal Outlook—a report and chartbook that uses 40 Outlook,” by Dr. Wayne Winegarden, September 2018. data from OpenTheBooks.com to demonstrate that California’s public Radio “Beware California’s Pension pensions are even more lavish than Monster” (video to accompany study), originally thought. California’s and TV September 2018. pension debt is nearly $1 trillion – and Interviews Capital Ideas, two-page issue briefs on just 28 percent funded. California policy, released monthly Right by the Bay blog, daily podcast highlights commentaries on California issues, • Pete Constant, Retirement 99 written by PRI scholars Security Initiative– How Can We Tame California’s Pension Blog posts impact Monster? (October 15, 2018) • Tia Boatman Patterson, PRI’s Kerry Jackson released Good California Housing Finance Intentions: How California’s Anti- Agency – Addressing Poverty Programs Aren’t Delivering and California’s Home Affordability How the Private Sector Can Lift More Problem (July 2, 2018) People Out of Poverty – a policy brief • Connie Conway – She’s Back! that makes the case that California policymakers should reform Former Assembly Republican government anti-poverty programs Leader Takes on Sacramento’s to remove incentives against work Hot Topics (April 23, 2018) while expanding job opportunities • Senate Republican Leader in the state’s poorest communities. Patricia Bates – The View from In January, The Los Angeles Times Under the Dome (April 9, 2018) published “Why Is Liberal California the Poverty Capital of America?” an op-ed by Jackson that received national attention. When I want to know what the best minds in “ free-market policy are thinking on issues like health care, education, and the regulatory state, I often turn to Sally Pipes and her team of experts at the Pacific Research Institute. —Stephen Moore ” development with gratitude

The final numbers are in, and they bear out studies, books, and other publications, PRI our sense that 2018 was one of the most donors are the very first to receive invitations to productive years for free market policy—and events. In 2018, we hosted several events with for PRI—in decades. We spent the year prominent speakers, including Mark Steyn, championing freedom, opportunity, and Governor Pete Wilson, Heather Mac Donald, personal responsibility in California and across Andrew Puzder, John Taylor, and Charles the nation, and were sought out for analysis and Kesler. commentary more than ever before. Look at the tallies from our Media Impact report: In 2018, In the near future, we may face the challenge of PRI scholars: myriad bad policies—policies that threaten to damage the economy, burden taxpayers, stifle • Penned or were featured in 578 op-eds; entrepreneurship, penalize success, and rob our • Wrote 190 blog posts; children of a quality education. Our work over the past year has put us in a strong position • Made 148 radio and 68 to continue educating the public, formulating television appearances; policy proposals for politicians, and setting • Recorded 52 podcasts; and an alternative media narrative to underscore • Were mentioned in 2,752 media articles. the importance of freedom to statewide, and nationwide, well-being.

These numbers aren’t so much meaningful Your support is crucial to the continued on their own as they are testament to how success of our work. Standing together, we can important—and how timely—our policy spread the message of limited government, research and commentary is. None of this free enterprise, and personal responsibility far would be possible were it not for the support and wide throughout our state and country. that you have shown to PRI. Your commitment Together, we can beat back failed, big- to advancing free market policies is what government policies and restore common sense made 2018 such a successful year. We remain to our state and national decision-making. development enormously grateful to you for your time, commitment to our work, and financial support. In addition to annual support, we encourage our donors to support our work through planned We were delighted to welcome hundreds of giving, including estate gifts and appreciated new supporters to PRI, including dozens of stock. For more information about contributing new Sir Antony Fisher Freedom Society members, to PRI, please contact PRI’s Development those who contribute gifts of $1,000 or more Department at (626) 714-7572. each year. In addition to receiving our in-depth Revenue by Source

OTHER CORPORATIONS 2% 7%

INDIVIDUALS 24%

FOUNDATIONS 67%

ASSETS & LIABILITIES Cash & Equivalents $4,994,414 Investments $9,203,035 Net Fixed Assets $34,713 Other Assets $660,344 Liabilities $230,108 Net Assets $14,662,398

Total Revenue $5,143,050 Total Expenses $3,803,750 financials events January 2018 June 2018 “How Campus Victimology is “How Publishers Made a Mess Remaking the ‘Real World’” “An Evening with of the Internet and How They Luncheon and Discussion Educational Entrepreneurs” Will Rise Again” with Heather Mac Donald Young Leaders Circle Young Leaders Circle San Francisco, California Co-hosted with America’s Guest Speaker: Future Foundation TechCrunch COO “Electric Vehicle Subsidies for San Francisco, California Ned Desmond the Rich” San Francisco, California Young Leaders Circle “Embracing a Free-Market Guest speakers: Energy Future” “What California Can Do to • PRI Senior Fellow in Policy conference co-hosted Expand School Choice” Business and Economics with Institute for Humane National School Choice Week Wayne Winegarden Studies Event with • Sabrina Lockhart, Vancouver, Canada Lance Izumi California Independent Featured speakers: Sacramento, California Petroleum Association • Sally C. Pipes, PRI • Sanaz Motamedi, President, CEO, and UC Berkeley Thomas W. Smith Fellow February 2018 in Health Care Policy

The Corrupt Classroom “The Trump Administration: • Wayne Winegarden, Luncheon and Discussion The First Year and What Lies PRI Senior Fellow in with Lance Izumi Ahead” Business and Economics Joint event with Downtown Luncheon and Discussion • Jody Lipford, Los Angeles Lincoln Club with Dr. Charles Kesler Presbyterian College Los Angeles, California Newport Beach, California • Nick Loris, Heritage Foundation Social Mixer Young Leaders Circle April 2018 • Mark Milke, Canadians San Francisco, California for Affordable Energy Book Launch Party for The • Roger Meiners, University False Promise of Single Payer of Texas at Arlington March 2018 Reception featuring • Arthur Wardle, Center for Sally C. Pipes Growth and State Capitol Reception San Francisco, California Opportunity at Utah State with Sally C. Pipes University Sacramento, California

• Sabrina Lockhart, August 2018 October 2018 California Independent Petroleum Association “Why Technology Evening reception with Sally • Marlo Lewis, Prophet Predicts Big Tech C. Pipes Competitive Disruption” Phoenix, AZ Enterprise Institute Luncheon and Discussion with George Gilder “You’ve Gotta Fight for Your The Capitalist Comeback: The San Francisco, California Right . . . to Vape” Trump Boom and the Left’s Plot Young Leaders Circle to Stop It Guest Speaker: Dr. Tevi Troy Luncheon and Discussion September 2018 of JUUL Labs with Andrew Puzder San Francisco, California Joint event with Downtown “A PRI Tribute to Governor Los Angeles Lincoln Club Wilson in Celebration of th Los Angeles, California His 85 Birthday” November 2018 Annual Thatcher Gala Dinner Fifth Annual Villa Taverna Featured Speakers: “Trump and His Critics: How Dinner • Gov. Pete Wilson the President Has Shaped Domestic and Keynote: John Taylor, Hoover • The Hon. Daniel Kolkey Institution Foreign Policy” “A Turning Point in • Mark Albrecht Luncheon and Discussion Economic Policy” • Judge Janice with Michael Anton San Francisco, California Rogers Brown Newport Beach, California • Russ Gould 2018 Annual Gala Dinner July 2018 • Sean Walsh with Mark Steyn San Francisco, California • Ted Weggeland “How Can We Increase Newport Beach, California Viewpoint Diversity in Holiday Reception Silicon Valley” Joint Sir Antony Fisher Young Leaders Circle Freedom Society-Young Guest Speaker: Garrett Leaders Circle Event Johnson, Lincoln Network Guest Speaker: San Francisco, California Dr. Charles Kesler San Francisco, California staff scholars

Sally C. Pipes Wayne Winegarden, Ph.D Benjamin Zycher, Ph.D President and CEO Senior Fellow, Senior Fellow Thomas W. Smith Business and Economics Economic Studies Fellow in Health Care Policy Kerry Jackson Steven F. Hayward, Ph.D Rowena Itchon Fellow Senior Fellow Senior Vice President California Studies Bartlett Cleland Ben Smithwick Henry I. Miller, MD Senior Fellow Vice President of Senior Fellow Tech and Innovation Development Health Studies Damon Dunn Tim Anaya Kenneth P. Green, Ph.D Fellow Director of Communications Scholar Business and Economics Environmental Studies Lance T. Izumi, J.D. Senior Director Beth Haynes, MD Education Studies Board Member Benjamin Rush Institute Makaila Warga Development and Robert P. Murphy, Ph.D Events Manager Senior Fellow Business and Economic Evan Harris Studies Media Relations and Outreach Manager board of directors Chairman Chairman Emeritus Clark S. Judge The Honorable Daniel Oliver Managing Director Senior Advisor White House Writers Group White House Writers Group

Sally C. Pipes Richard Samuelson, Ph.D. President & CEO, Pacific Research Institute Associate Professor of History California State University, San Bernardino Secretary/Treasurer Sean M. McAvoy The Honorable Lawrence J. Siskind Cofounder and Managing Member Of Counsel, Coblentz Patch Hillair Capital Management Duffy & Bass, LLP

Katherine H. Alden Paul Tosetti Owner, Woodside Hotels & Resorts Partner, Latham & Watkins

Steven Dennis, M.D. Richard A. Wallace Orthopedic Surgeon Consultant, Freedom Communications

Peter C. Farrell, Ph.D., AM Christopher Wright Founder and Executive Chairman President & CEO of the Board Liberty Resources, LLC ResMed Sandra E. Gale emeritus board members Retired Business Owner Gourmet Center, Inc. Frank Baxter Chairman Emeritus Russell A. Johnson Jefferies Group Inc. Partner, KPLJ Ventures Lisa Guillermin Gable The Honorable Daniel M. Kolkey Partner, Gibson Dunn

Thomas C. Magowan President, Club Minibar, Inc. Founded in 1979 and based in San Francisco, PRI is a non-profit, non-partisan organization supported by private contributions. Its activities include publications, public events, videos, media commentary, including op-eds, radio and television interviews, as well as article citations, community leadership, invited legislative testimony, amicus briefs, social media campaigns, and academic outreach.

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