• Skip to primary navigation
  • Skip to main content
  • Skip to footer
American Idea Foundation

American Idea Foundation

Measuring Results, Expanding Opportunity, Improving Lives.

  • Contribute
  • About
    • Paul Ryan
    • Our Team
  • Mission
    • 2025 Progress Report
  • Approach
  • News
    • Blog
    • Press
  • Contact

Press Release

At Mackinac Policy Conference, Ryan discusses the state of politics & public policy

May 30, 2024 by Mike

By: AIF Staff

Mackinac Island, MI – Earlier this week, former Speaker of the House Paul Ryan was a keynote speaker at the 2024 Mackinac Policy Conference, hosted by the Detroit Regional Chamber of Commerce. In a fireside chat moderated by former Democratic Congressman Harold Ford Jr. and attended by Michigan’s business, community, philanthropic, and elected leaders, Ryan touched on the biggest challenges facing America in the 21st century.

Bemoaning increased partisanship, expressing concerns about the direction of the country, and acknowledging short and long-term economic issues like the expiration of the Tax Cuts and Jobs Act and persistently high interest rates, Ryan outlined solutions to get our nation back on track.

Drawing on experience gleaned during two decades in elected office, Ryan shared a pragmatic and optimistic message, in keeping with the Conference’s theme of “Bridging the Future Together.”

Two recaps of Ryan’s conversation are accessible here:  

  • Detroit Regional Chamber: MPC 24: A Conversation with Paul Ryan & Harold Ford Jr.
  • Michigan Advance: Ryan talks misinformation, polarization, and pitfalls of Democrats & Republicans

Excerpts of Ryan’s comments, edited lightly for clarity, follow.

Working with poverty-fighting organizations on evidence-based solutions

“I teach Economics at Notre Dame and I’m on the Board of their Poverty Lab, which is called “LEO”, the Laboratory of Economic Opportunity. And what my foundation does is we go find what we think are really interesting poverty programs, then we seed fund them so that they can [conduct] a randomized control trial [with] Notre Dame economists who track and measure that poverty program over the length of 1-3 years, run a trial on it, and see if it proves to be really successful.

We’re building mechanisms to try and scale and replicate those poverty [fighting] successes across the country and NPower is one that we’re working with. It is here in Detroit and there are NPowers all around the country where they are getting disaffected youth… and underprivileged kids into tech jobs and providing them with the curriculum they need to become good tech workers in this tech-centered economy. There are a lot of interesting poverty programs out there like this….

The last law I wrote when I was in Congress, and Patty Murray (D-WA) was my partner on it, was called the Evidence Act. It allows all the federal data on poverty programs to be released to researchers so that we can measure the effects of our poverty policy….

The question is: Can we get at the root causes of poverty, to break its cycle, to really reignite upward mobility in America, to get people fundamentally and fully out of poverty?

There is so much now that we can learn through economics, through data, and through research practices, and we think there’s a real unlocking moment in front of us. So, I’m really confident we can have a step function increase in getting at poverty because if we apply our resources to practices and procedures that we know work and scale and replicate those, I think we can make a huge difference.

It involves the public sector and nonprofit sector and private sector so what we’re trying to do with our poverty lab at Notre Dame and with our foundation is find those bright lights that are out there and making a huge difference. We want to find out what their secret sauce, determine is it repeatable and if so, replicate it.”

Balancing free speech rights on college campuses

“I think Ben Sasse probably got it right at the University of Florida. He’s the President of the University of Florida. Ben’s a good friend of ours. He basically said: Free speech, we respect, but if you are infringing on other people’s rights, you’re going to be held accountable. If you’re going to take away space from other people to freely assemble and prevent other people from going to class or stop people going to the library, you’re going to be removed and you’re going to face the consequences of the law. There are places on the campus to practice free speech and you can do it all you want, but as soon as you start infringing upon other people’s rights, that’s when you’re breaking a law and that’s when you’re going to be held accountable.”

Combatting misinformation in Congress and in business

“If you’re a leader these days, you have got to design new mechanisms and tactics to try and suss all of [this misinformation] out so that you can call balls and strikes and so that when political decisions are potentially being made on misinformation, you have a good BS detector….

The foreign policy stuff is actually easier [when it comes to misinformation] because you can bring members into a SCIF, where we have these secure facilities for clandestine briefings. You can get briefings from the Intelligence Community, and they will tell you what actually happened and what didn’t happen. If somebody’s a total conspiracy theorist, they just won’t believe them, and we’ve got people like that but that’s what they’re going to do. You can, on foreign policy at least, get people to attend real, classified briefings to give them real information to help them make better-informed decisions. You don’t have that domestic policy. You’ve got constituents and people in their information cul-de-sacs being fed an algorithm which further feeds your biases and reinforces your beliefs and places you in your sedentary position against others. That’s a real challenge for a 21st century democracy.

I think the key thing, as a leader, is to make sure that you call it all out. You do everything you can when you see this stuff developing to find out what the truth and the facts are and then call it out and you just have to design a specific tactic to do this…. When you see some weird conspiracy theory popping up in your ranks, just know it’s going to potentially bleed into legislation and form positions, so you better get it in its infancy. If you let these things fester and go on because you’re too afraid of taking people on, you’re going to have a serious problem on your hands.”

One positive thing that President Biden has done

“He built NATO up. He formed a very good alliance to help Ukraine. I can nickel and dime the specifics of his Ukraine policy – I think he was too little, too late on a lot of things like F-16s and ATACMS, but I think he did a good job of stitching NATO back together and building up our allies to confront Russia.”

The best policy of the Trump Administration

“His fiscal policy on regulations and taxes. His fiscal policy on the tax side. Judges, too. I think he put up some pretty good judges.”

Rising stars in American politics & the legislative ‘brain drain’

“In terms of soberness and the politics of working across the aisle to solve serious problems in our states, I would say Glenn Youngkin. He’s Reagan-esque in that he intentionally ran an inclusive campaign, not one based on identity politics – which is wrong and both parties are playing it these days. [Glenn Youngkin] ignored identity politics and won in a blue state as a problem-solving, can-do kind of leader…. And he’s crushing it.

I don’t know your Governor [Gretchen Whitmer] well, but she seems to be pretty popular and is definitely a star in your party.

On my side, I think there are some young people in Congress that are pretty impressive. These are names you wouldn’t likely know: Laurel Lee, Randy Feenstra, Bryan Steil, though one of our best guys just left, Mike Gallagher.

What I’m worried about in Congress is the great policymakers are looking at the place and saying: “I’m going to do something else with my life. I can be more productive, so I’m not staying here.”

A lot of the young, bright, up-and-coming, workhorse legislators are leaving because Congress is giving them a bad taste in their mouths. I’m personally, as a fan of the institution, quite worried about who’s leaving and who’s coming to replace them in Congress.”

The next steps in the Israel-Palestine conflict and in Rafah

 “Biden, obviously, is under tremendous political pressure from the progressive base of his party. I think he’s made some huge mistakes lately on this. I think [Biden] should have gone faster to get this thing done, instead of nickel and diming [Israel]….

This could have been over with sooner and the last thing we should do, as a country, is incentivize terrorist groups to use civilians as human shields. We don’t want to reward that.

Obviously, I have a pro-Israel slant here, because I think it’s extremely important that we not reward terrorists for taking civilian hostages and using them as human shields because if we reward that behavior, we’re going to get more of that behavior.

I know that Michigan is seen as a state where this [Israel-Palestinian conflict] is a big issue. It’s a big issue everywhere. I think this will be done by the time the election rolls around. I think Bibi Netanyahu knows he’s got this kind of a timeline on his hands. I think he’s getting a lot of pressure from the Biden [Administration] to get this thing done. It’s a doable operation. It’s a finite piece of land. I think they’ll get it done by the election.”

On the Federal Reserve’s continued independence & Powell’s performance

“We always told [Fed. Reserve Chair Jay Powell] that we have your back. Your independence is sacrosanct to the dollar and to our monetary policy. You have to change the Humphrey-Hawkins law to change and compromise the independence of the Federal Reserve.

Now, the Federal Reserve can make their own mistakes to compromise their independence but that’s on them. For a president to be able to effectuate Federal Reserve policy, the Humphrey-Hawkins act has to pass [Congress]. You can’t use reconciliation for that. It takes 60 votes. In other words, it ain’t going to happen.

The law governing the Federal Reserve is not going to change. You are not going to have the kind of votes you would need in Congress. [Former President Trump] might jawbone them, and he might complain, but that’s about all he can do….

[Powell] got us through COVID really effectively. He set up a lot of facilities that were really important to prevent a deflationary spiral but then he was late on inflation… Jay was late. You could identify a handful of reasons why he was late [on inflation], but he was late, and I wish he would have talked more about…fiscal policy….  The last Biden stimulus, meaning the final Covid bill, was unnecessary. We were already coming out of COVID and there was a political moment where [the Biden Administration] shoved a lot of spending out the door. Even Keynesian economists on the left, like Larry Summers and Jason Furman, were telling us… this is going to create inflation. Jay knew it was going to create inflation. He was told and he did it anyway.”

Filed Under: In The News, Press Release Tagged With: Validating Reforms that Expand Opportunity

On Bloomberg’s Wall Street Week, Ryan talks trade policy, monetary policy, & fiscal policy

May 13, 2024 by Mike

By: AIF Staff

Los Angeles, CA – Talking with David Westin on Bloomberg’s Wall Street Week from the 2024 Milken Institute’s Global Conference, former House Speaker Paul Ryan says the next President could very well face a debt crisis. He says neither President Joe Biden or Donald Trump are doing enough when it comes to getting new trade agreements signed and neither are taking our debt seriously enough.

Video of Ryan’s conversation on Bloomberg TV’s Wall Street Week and excerpts from the interview follow.

The 3 biggest economic policy challenges facing policymakers in 2024-2025

“Number one would be tax policy. What’s the tax code going to look like? What’s tax policy looking like in the future? Number two, I would say tariffs. Number three, I think it’s reasonable to assume the next president is quite possibly going to face a debt crisis. You don’t know when that is or exactly what form that takes place, but a lot of fiscal policies are on the line – tax policy, trade policy, debt policy, and therefore, interest rates.”

The impact of the 2024 election on the future of the US tax code

“It’s more likely than not we are going to have divided government. I feel good as a Republican that we’re going to take the Senate just because the map is so good for us.

The House is basically a tied House right now, so that’s kind of a coin toss which depends on who’s going to win the presidency. My guess is it’s most reasonable to assume divided government because Biden or Trump won’t run the table.

And the law that I worked on quite a bit, the Tax Cuts and Jobs Act, a lot of it expires in 2025 -not the corporate side, not the corporate rate, not the territorial system, but the individual side. If Republicans are in more control [of government], that means we extend the Tax Cuts and Jobs Act and if Democrats are more in control, they will do everything they can to let most of it expire.

If [Democrats] get their way and if they have all of Congress, [Biden] is actually proposing about a 44.6% capital gains tax, which if you add state taxes on top of that you’re at 50% — that’s economic nihilism…

If it’s divided government like I think it’s going to be, we will probably split the difference where maybe the top rate goes up, [the rest of the] individual rates stay the same, hopefully we get a little expensing back in place and Section 199A, which was really important for those medium and small-sized businesses, hopefully that gets extended.”

Both Trump & Biden ‘standing still’ on trade

“I don’t know who’s going to be the president, but Trump’s promising a 10% tariff across the board, which is a giant tax increase on American consumers.

Everybody is going to fight China. A Biden presidency is going to fight China. A Trump presidency is going to fight China. The question is, what about the other countries?

The frustration for me is neither of these two presidents want to do trade agreements. We should have done TPP (the Transpacific Partnership) in my opinion. It’s a very good China policy but neither Trump nor Biden are proposing any trade agreements. Trump is proposing across the board tariffs. Biden is not proposing that, but he’s also not proposing to get new agreements and to get new markets for our products and our goods and services.

And if you’re standing still on trade, you’re falling behind because all the other countries are going around the world getting their own preferential multilateral and bilateral trade agreements, leaving us on the outside looking in. So, you can’t just stand still on trade. But unfortunately, that’s what we’re doing and that’s what, frankly, both these guys are proposing to do.”

Lacking Presidential leadership on the debt & the safety net

“I’m a fan of neither of the guys who are running for president because both of them are demagoguing the issue. In their primaries, they campaigned against people who propose solutions. They’re demagoguing entitlement reforms. They’re basically saying they’re not going to do anything and doing nothing, by the way, makes Medicare go insolvent, makes Social Security go insolvent, and hurts today’s current seniors.

Fixing this problem shores up the finances for these programs so that current seniors can get the promises that are due to them and then solves it for the next generation, so we don’t have a debt crisis.”

Avoiding a debt crisis & acting like the world’s reserve currency

“We’re already on track to spend more in interest payments than we are for national defense and regrettably, none of these guys who are running for president are proposing to do anything about it.

There are good people in Congress that are proposing solutions. There’s bipartisan support for a Fiscal Commission but you have neither Trump nor Biden saying they’re going to do anything about it. So, I think the next president has a reasonable chance of having a debt crisis on their watch…

If the world concludes that America is not going to get its fiscal house in order, that we’re going to get these entitlements under control, then they’re going to conclude that we are going to monetize our debt and there goes dollar dominance. That’s an exorbitant privilege which benefits us greatly.

We’re not acting like a world’s reserve currency. We should be and this, for me, is the biggest fiscal challenge the next president is going to have to confront. I wish I could say somebody has a plan for this but neither of them do. That’s what’s so frustrating for me.”

Stablecoin legislation could help address our fiscal challenges

“I think stablecoin legislation would be a good step in the right direction. It could be helpful, and it could be done this year, but I don’t see anything other than that on the horizon.

Stablecoins are digital and private sector dollar-backed currencies. It’s not cryptocurrency because it’s tethered to the U.S. dollar. They have to have dollar-backed assets. They have to have treasuries or cash to back them. There’s not a law that governs [stablecoins] right now, so they aren’t really deployed…

Reps. Patrick McHenry and Maxine Waters are working to put a deal together and Senator Chuck Schumer is in talks with them, so I think there’s a reasonable chance they could get a deal on stablecoin legislation and that means you have a legal framework to get stablecoins deployed.

[If you have a law governing them] you would go from a couple of hundred billion dollars of stablecoins to maybe trillions. Right now, stablecoins are like the 16th largest buyer of bonds, bills and notes among all sovereigns.

If you actually regulate stablecoins and have them deployed, that does two things: It gets the U.S. dollar more deeply ingrained in the oncoming digitization of currencies, and that’s a good thing. And it creates new consumer demand for our bonds because they have to have those to back up the stablecoins. So, [it would mean] more demand for treasuries and more use of a digital dollar throughout the system, which would help better entrench the dollar. It’s a win-win situation for America.

I think it’s a no brainer. I’m hopeful. I’m cautiously optimistic Congress might do that this year. There are good talks happening and that’s one thing you could do on the margins to improve demand for our bonds and [strengthen the] dollar.”

Filed Under: In The News, Press Release

On Yahoo! Finance, Ryan discusses Speaker Mike Johnson, the policy implications of a 2nd Trump term, & the future of tax reform

May 8, 2024 by Mike

Los Angeles, CA – Earlier this week, American Idea Foundation President and former Speaker of the House Paul Ryan was a featured panelist at the 2024 Milken Institute’s Global Conference. While there, he spoke with Yahoo Finance’s Brian Sozzi and Akiko Fujita in a wide ranging interview on Yahoo! Finance. Recaps of Ryan’s comments can be found below, and excerpts of his responses follow.

  • Article: Former Speaker Paul Ryan on GOP ‘nihilists’ and Trump’s economic plans
  • Article: Ryan says he’s not voting for Trump: ‘Character is too important’  

On Mike Johnson, the foreign aid supplemental, and the Motion to Vacate:

“With a tight margin like this, who you have a few nihilists who are not interested in seeing their team succeed but building a brand for themselves, this is the kind of behavior you’re going to get. If Rep. Marjorie Taylor Greene does this… she’s not going to succeed because [Democratic House Leader] Hakeem Jeffries, rightfully so for the institution’s sake, said they are going to table this. So, this won’t succeed, but it’s a nihilistic approach that some of these members are taking and it makes the place ungovernable.

But even knowing it was potentially going to cost him his job, Mike Johnson still did the right thing. I’ve always said you can’t be good at these jobs unless you’re willing to lose them. You fight for the institution. You do what you think is right, and that’s exactly what Mike Johnson has done.

He’s new to the job, but he’s scaled the learning curve very fast. I’m very proud of him. He’s a smart and decent man who tried his best to bring his team around, irrespective of the fact that he knew they were going to come after his job and threaten him like they just did his predecessor, he went forward anyway and passed this package. That’s what leadership looks like. It may cost him the job in this next term, but he did it anyway and that, to me, is heartening. Our institutions still work.

We have leaders stepping up and doing the right thing, not every time, but in this case, that’s what happened and shame on people who think they should vacate a speaker for a policy disagreement, for simply doing his job.”

On whom he is voting for in 2024:

“I understand the binary argument. It’s a reasonable argument. I just don’t agree with that argument. Character is just too important to me. It’s a job that requires the kind of character that [Trump] just doesn’t have. Having said that, I really disagree with Biden on policy. I wrote a Republican in last time and I’m going to write-in a Republican this time… I don’t know who yet.”

On the dysfunction in Washington impacting business decisions:

“It adds to the “uncertainty tax.” There’s a lot of uncertainty about who is going to be President. There’s a lot of uncertainty about what the tax code is going to look like after 2025. This creates a lot more of that uncertainty. In this case, it is: Are we supporting our allies? What is the war in Ukraine going to look like? This affects agricultural markets and affects a lot of things with respect to supporting Ukraine and Israel. So, just getting the [foreign aid supplemental] through took 4-5 months and that creates a lot of uncertainty and so, [the dysfunction] just adds to the uncertainty tax.”

On a lack of Presidential leadership on the debt:

“Trump and Biden are both promising that they are not going to do anything about this. Not only are they promising not to do anything about this, but they are also demagoguing those who are offering solutions. They are running against these people, trying to scare seniors by going after people who are proposing these reforms.

You have to reform these entitlement programs to prevent their insolvency and to prevent their bankruptcy. Medicare and Social Security go bankrupt within a decade and that hurts current seniors. Proposing to do nothing about that, like Biden and Trump are doing, hurts those seniors. And so, leaders in Congress, it’s bipartisan with both Democrats and Republicans saying we have to do something about this, but the two guys running for President are demagoguing on this. That to me is very frustrating. It’s kind of scary, because we are walking ourselves into a very predictable debt crisis and that’s bad for everybody. Everybody gets hurt under a debt crisis. The economy suffers, seniors suffer, people living on the safety net suffer so the smart thing to do, knowing bankruptcy is coming, is get over this.

Let’s pass reforms that are phased in, which don’t affect current seniors, and which stop bankruptcy from ever happening. This is what a serious government would do. This is what serious politicians would do, but that’s not we have right now.”

On the notion America can tax its way out of a debt crisis:

“You can’t tax your way out of this problem. The numbers are just so big. You can’t cut the Pentagon and you can’t raise a bunch of taxes and come close to solving this problem. The drivers of the debt are these entitlement programs, namely Medicare, Medicaid, and Social Security.

Now, the good news about all of this is: 1) it’s totally within our control as a country to solve these problems; 2) you can solve these problems without affecting current seniors; and 3) we have learned a lot since we started these programs in the 1930’s, the 1960’s, and the 20th century on how to deliver these benefits. We have got to modernize these programs so the next generation can still have a good safety net and can still have health and retirement security, but you have to reform these programs on a go-forward basis and that can be done.

Raising taxes doesn’t even come close to solving the problem. Can you get a higher revenue line without doing damage to the economy? Yes, I think you can but that’s more of a tax reform question, but if you do what Biden is proposing which is to have effectively a 50% capital gains tax, that’s going to hurt small businesses with a giant tax increase. That’s going to kill economic growth.  

Here’s the last thing I’ll say: You can’t solve this without a growing economy so if you’re going to play with taxes, you have to be careful and do it in a way that keeps the economy growing. You can’t take your eye off the ball which is spending and it’s the way these programs are designed. You can fix them on a go-forward basis without affecting current seniors. If you start soon, you can dodge a debt crisis.

It’s the most predictable economic crisis we will have ever had in this country and frankly, we’re not doing anything about it. That is really disappointing.

On the extension of the TCJA and the need to extend Section 199-A for small businesses:

“Let’s look at what expires: It’s the individual side of the code. It’s not the corporate side of the code, so it’s all those tax crates on families. If you raise those tax rates, you’re going to hurt economic growth.

I could see a deal where the top rate goes up to 39.6% from 37%, which is kind of a rounding error on the numbers, but I can’t imagine either Biden or Trump in divided government, which is what I expect we’re going to have, allowing those tax cuts to expire.

The thing that is not getting covered much is something we call Section 199-A. It’s kind of an obscure provision but when we lowered corporate rates to be commensurate with the rest of the world and to be globally competitive – which was working — we also lowered the tax rates on what we call pass-throughs, sub-chapter S corporations, sole proprietorships, and LLCs which are about 80% of American businesses. They got a corresponding rate decrease so that they were on par with corporations.

Now, think of the person in Janesville, Wisconsin who owns the Ace Hardware competing against Home Depot. Do we want to let that person’s tax rates go back up to above 40% when Home Depot’s is at 21%? I don’t think we want to let that happen but that is what happens if you let Section 199-A expire, which Biden is proposing to do. I think that’s devastating to small and medium sized businesses. It’s really bad for economic growth. I think they need to extend Section 199-A and I think they will extend it because raising taxes on all these small businesses across America is not good economics.

On Trump’s second term economic agenda & why it’s preferable to Biden’s:

“Well, across the board tariffs are not good for the economy. Fighting China is good and necessary, and both of these guys are going to fight China. I think that’s fairly bipartisan. If you look at the House Select Committee with Raja Krishnamoorthi and Mike Gallagher, they put together a Venn Diagram of bipartisan China policy that I think either Administration is going to be effective and committed to fighting China. But I think a 10% tariff across the board is terrible economic policy. It’s a 10% tax on American consumers, making our businesses less competitive so I don’t think that’s good policy but Biden’s proposing this massive tax increase on medium and small-sized businesses. So, is it any wonder I don’t like either of these guys?

I’m a person who is saying, I’m not for Trump but his economics are better than Biden’s. If you’re asking me which is better? I think Trump because he’s better on taxes. I don’t like a lot of the tariffs and that can be done by a President, but I think he’ll be better on regulations and taxes.

The problem with Biden is he went left. He wasn’t the moderate the swing state voters in Wisconsin thought they were getting. They got this progressive. He’s got ideologues in the executive agencies killing energy production, proposing big tax increases so that’s not a very attractive economic agenda.”

Filed Under: In The News, Press Release

  • « Go to Previous Page
  • Page 1
  • Interim pages omitted …
  • Page 9
  • Page 10
  • Page 11
  • Page 12
  • Page 13
  • Interim pages omitted …
  • Page 28
  • Go to Next Page »

Footer

  • Facebook
  • Twitter
  • Contribute
  • About
    • Paul Ryan
    • Our Team
  • Mission
    • 2025 Progress Report
  • Approach
  • News
    • Blog
    • Press
  • Contact
Copyright © 2023 American Idea Foundation. Inc. All rights reserved.