Paul Ryan put in charge of GOP’s presidential bank account

A day after officially ruling out a presidential bid, Rep. Paul Ryan (R-Wis.) has been named the chairman of the Republican National Committee’s Presidential Trust, the board in charge of the money the RNC can spend in coordination with presidential campaigns.

{mosads}The role is focused on raising RNC funds that can be used to help the eventual nominee, and Ryan has previously chaired the group.

“There is no one better suited for this important role than my friend and my Congressman, Paul Ryan,” RNC Chairman Reince Priebus said in a statement. “After previously serving as the chair and running as our party’s vice presidential nominee, he understands the importance of securing these resources early in the cycle. He is one of our party’s most respected and visionary leaders, and I’m grateful that he has agreed to serve in this capacity once again.”

Ryan is close to Priebus and has close ties to two potential presidential candidates, Wisconsin Gov. Scott Walker (R) and his 2012 running mate, former Gov. Mitt Romney (R-Mass.). His star power could help the RNC keep ahead of the Democratic National Committee in fundraising.

“We had a great election in 2014, but we will have to be even better in 2016 if we want to get America back on track,” Ryan said in a statement. “Republican candidates will be ready to offer new leadership and new ideas, and the RNC will be ready to provide our nominee the resources to win.”