Phillips was born in 1969 in St. Paul, Minnesota. He received a bachelor's degree in urban studies from Brown University in 1991, and a master's degree in business from the University of Minnesota in 2000. From 1993 to 2012, Phillips worked as the president and chief executive officer of Phillips Distilling Company, a distillery and liquor brand owned by his family and representing the fifth generation of his family to manage the business established by his great-great-grandfather in 1912. . He then worked as the executive chairman of Talenti Gelato from 2012 to 2016. In 2016, Phillips co-founded Penny's Coffee, a coffee shop chain in Minnesota. During his tenure with Phillips Distilling Company, he participated in the creation and development of Belvedere and Chopin Vodka, sold to Louis Vuitton Moet Hennessy (LVMH) in 2005, and introduced UV Vodka – now one of America’s best selling distilled spirit brands. Mr. Phillips serves as a Director of Winmark Corporation (WINA), a publically traded, retail franchisor and leasing company, and on the Board of Advisors of United States Distilled Products Co. and Rational Energies, a next-generation refiner of transportation fuels derived from municipal solid waste. He is the immediate past-Chair of the Board of Directors of Allina Health, Minnesota’s largest healthcare provider, and former Chair of its Investment and Philanthropy Committees. He currently serves as Co-Chair of The Jay & Rose Phillips Family Foundation and The Edward J Phillips Family Foundation of Minnesota, among Minnesota’s largest private philanthropies, on the Board of Advisors of The Minneapolis Parks Foundation, and on the President’s Circle of The Hennepin Theatre Trust, among a number of other nonprofit board positions. Phillips was first elected to public office in 2018, when he defeated then-incumbent Erik Paulsen (R) to represent Minnesota' 3rd Congressional District. He won re-election in 2020 and 2022. Phillips (Democratic Party) is a member of the U.S. House, representing Minnesota's 3rd Congressional District. He assumed office on January 3, 2019. His current term ends on January 3, 2025. Phillips is running in the 2024 Democratic presidential primary. He declared his candidacy on October 26, 2023.