Ryan was at the forefront of the 2010 Republican takeover of the U.S. House. Widely considered a conservative authority on economic policy, he gained national prominence during his central role in the aftermath of the 2008 financial crisis.
His most notable recent achievement was introducing and passing the Roadmap for America’s Future in the House, a budget bill that if signed into law would have drastically altered congressional spending. Called the “Ryan Plan” or “Ryan Budget,” the bill called for eliminating tax on investment income, while lowering the personal tax rate and privatizing Medicare. The bill easily passed the House, but stalled in the Democratically controlled U.S. Senate.
Ryan is a popular figure in the Republican party. He’s also young at just 42. Some conservatives hope Ryan’s youth and fiscal record will energize the Republican base ahead of the November election.
Romney’s VP selection was the topic of much speculation in the weeks leading up to his announcement. Familiar Republican names, like former Secretary of State Condoleeza Rice, N.J. Gov. Chris Christie and Fla. Sen. Marco Rubio were tossed around by pundits and conservative blogs.
The next important event for the GOP is the upcoming convention, being held in Tampa, Fla. Aug. 27-30.