VP Pick Ryan Top House Fundraiser

Wednesday, 15 Aug 2012 10:18 AM

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GOP vice presidential nominee Paul Ryan is one of the top fundraisers in Congress. Working through his campaign and political committee the Wisconsin representative has brought in some $8 million for this year’s election, The Washington Post reported.

He currently has $5 million in the bank, more than any other House member. Ryan’s biggest contributors work for major insurance and financial companies including hedge fund founder Paul Singer. Ryan has also pulled in money from small donors and corporate PACs, the Post reported.

Ryan’s largest source of campaign funding comes from Northwest Mutual, a life insurance company based in Wisconsin. The company’s employees and PAC have contributed $121,000 during his time in office, according to the Post. Coming in second is Koch Industries.

Ryan and his wife Janna have long ties to Washington. Before running for Congress in 1998, Ryan worked as a congressional aide and for an advocacy group. Janna Ryan was a lobbyist for three years. Observers say Ryan’s fundraising prowess is more connected to his role as an ideological leader in the House rather than his position, the Post reported.

“I don’t think he’s attracting money because he’s chairman of the Budget Committee,” Jan Baran, a Republican campaign lawyer, told the Post. “That has never been known as a money magnet. Congress hasn’t even passed a budget in years.”

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