Welcome to the RyanPAC Newsletter!
RyanPAC plays an important role in advocating for tax policies that align with the needs of our clients and the business community. By supporting policymakers who champion sound tax policy, RyanPAC helps create an environment that enables both our clients and the Firm to thrive.
Let’s take a look at our 2024 accomplishments and the exciting work ahead in 2025.
2024 RyanPAC Achievements
As RyanPAC grows, so does our impact. This year, we focused on strengthening our relationships across the country, investing in more states than ever before.
Over $800,000 Invested in Key Elections
In 2024, RyanPAC continued its mission to support candidates and initiatives that align with Ryan’s values and business goals. With over $800,000 invested in more than 100 candidates at the federal, state, and local levels, we’ve helped drive positive change in critical tax policy discussions.
For example, Gina Rodriquez on the Ryan Advocacy team successfully collaborated with the California Department of Tax and Fee Administration (CDTFA) about a client’s audit. This led to the withdrawal of the audit, allowing the client to file their returns in compliance with state tax requirements.
Support in Key Gubernatorial Races
2024 saw important victories in governor’s races. Governor-elect Bob Ferguson of Washington and Governor-elect Patrick Morrisey of West Virginia are among the leaders we are excited to partner with in 2025.
Our Advocacy team is already engaging with Governor-elect Ferguson to discuss his goals for the Department of Revenue and how Ryan can help provide resources and improve efficiencies. Ryan’s collaboration with Governor-elect Morrissey is focused on his transition plan and cabinet appointees. We look forward to helping him throughout his first legislative session on sound tax policy for the state of West Virginia.
Continued Congressional Influence
RyanPAC continues to build meaningful relationships with members of Congress. This year, we supported key leaders such as Senator John Thune, who was recently elected as the Senate Majority Leader, and Speaker of the House Mike Johnson, both of whom play a crucial role in shaping federal tax policy.
In addition, we collaborated with Congressman Bruce Westerman, Chairman of the House Committee on Natural Resources and our Severance Tax team on a tax policy issue related to federal royalties. His efforts alongside RyanPAC supported Congresswoman Harriet Hageman, led to decisions that resulted in over $300 million to access for our clients.
RyanPAC CANDIDATES IN THE SPOTLIGHT
The RyanPAC Board works collaboratively with the Advocacy team to develop and implement the RyanPAC strategic plan. RyanPAC regularly reviews its contribution strategy and evaluates candidates based on a set of criteria aligned with our business objectives and company mission.
Governor of Arizona Katie Hobbs (AZ)
- Ryan Leadership Engagement: In October 2024, Governor Hobbs met with 15 Ryan Principals to discuss Arizona priorities. We also hosted Governor Hobbs in our Dallas headquarters for a breakfast with DFW women leaders to discuss the importance of women in office.
- Strengthening Arizona: As key influence in Arizona, Governor Hobbs leads the state home to Ryan’s 4th largest office, contributing significantly to client and revenue expansion.
California State Controller
Malia Cohen
- Championing California Tax Policy: As California’s tax landscape evolves, Ryan collaborates with Controller Cohen to navigate these changes and advocate for policies that benefit businesses.
- Expanding Influence in California: RyanPAC’s partnership with Controller Cohen strengthens our presence and reputation, reinforcing our role as a trusted partner in the state’s tax environment.
2025 RyanPAC Strategic Outlook
Looking ahead, RyanPAC is committed to advancing tax policies that benefit our clients and strengthen Ryan’s position as a leader and expert in the industry. Our expertise is sought after by lawmakers across the country, reflecting our reputation as trusted advisors on complex tax strategy.
FEDERAL
Everything from historic tax credits to TSA fee backlog disputes is on the table in 2025. However, one of the biggest priorities will be the extension of the Tax Cuts and Jobs Act (TCJA), which is set to expire at the end of the year. Without action, every tax provision such as individual tax brackets will revert to pre-2017 levels. RyanPAC is working closely with Congressman Jason Smith, Chairman of the House Committee on Ways and Means, to ensure the continuation of these provisions and shape the tax package extension to support long-term business growth and innovation.
TEXAS
Reducing the tax burden on businesses that invest in R&D activities encourages more businesses to develop new products, technologies, and processes. With Ryan’s global headquarters in Texas and a significant presence in both clients and thought leadership, we hope to replicate our Texas successes nationwide. The 2025 Texas Legislative Session starts January 14th, and RyanPAC is focused on the Texas Research and Development Tax Incentive, which we believe will:
- Strengthen competitiveness by attracting and retaining businesses in multiple industries such as biotech and manufacturing, keeping the state competitive with other states and countries that offer similar incentives.The 2017 Tax Cuts and Jobs Act is set to expire at the end of 2025. In turn, if no tax bill is passed in 2025, every tax provision that was authorized in 2017 (including the individual tax brackets) will reset to initially authorized levels.
- Stimulate innovation by reducing the tax burden on businesses that invest in R&D, which will encourage development of new products, technologies, and processes.
- Fuel economic growth by fostering job creation, higher wages, and a thriving economy in Texas.
As we close out 2024, we want to send a heartfelt thank you to all our RyanPAC members. Your contributions, driven by patriotism and confidence in our Firm’s vision, have been invaluable during such a dynamic year.
We appreciate you for being a key member of our team and helping us build meaningful relationships with lawmakers and leaders across the country. Your support enables RyanPAC to advocate for policies and initiatives that empower our businesses, support our clients, and strengthen our Firm’s future.
© 2024 Ryan, LLC