Former Speaker Paul D. Ryan, R-Wis., attends the unveiling of his House Budget Committee chairman portrait in the Capitol on November 29, 2018. The portrait was painted by Minnesota artist Leslie Bowman. He unveiled details of a new organization he will lead. (Tom Williams/CQ Roll Call)
Former House Speaker Paul D. Ryan unveiled new details Monday about his fledgling organization, the American Idea Foundation. Though the nonprofit organization won’t need to publicly disclose most of its donors, one is already known: Ryan’s own political coffers.
Prosperity Action, the Wisconsin Republican’s leadership PAC, transferred $1.6 million to the new group in installments in March, April and June of this year, federal election disclosures show. After those payments, Prosperity Action reported about $334,000 cash on hand. Leadership PACs offer lawmakers an additional way to raise money and support candidates.