Ryan urges both parties to get less cozy with Big Business

House Budget Committee Chairman Paul Ryan (R-Wis.) on Thursday admonished Democrats and Republicans for being too cozy with Big Businesses.

Ryan made the comments in the context of a spirited defense of free market principles in a Financial Times opinion piece.

The chairman is considered a possibility for Mitt Romney’s vice presidential running mate, and his latest arguments appear to be an attempt to showcase what his supporters say are his strongest assets: intellectual rigor and the ability to stand on principle.

In the piece, he echoes Romney attacks that President Obama has been practicing “crony capitalism” such as by favoring pet solar energy makers.

“The protection of big business remains a common thread in Mr Obama’s policies, which have come at the expense of the consumer, the taxpayer and the entrepreneur. A growing coalition of reformers — rooted in citizen movements across the political spectrum — reject this pernicious crony capitalism,” Ryan writes.

He said that the GOP must also reform.

“Both political parties have fallen victim to ‘partnership’ with large and well-connected companies, especially in energy, housing, finance and healthcare. Republicans have been guilty of confusing our pro-market principles with pro-entrenched business policies,” he writes.

The Ryan argument can be seen as a rebuttal to Obama’s attacks on Romney as being a cold-hearted business elitist who is anti-worker. He argues that returning to the free market will offer greater opportunity for all.

“In November’s election I believe the US will renew its dedication to economic freedom and reach a proper understanding of the role of government. In doing so, we will not just promote our prosperity, we will ignite an economic boom to spread opportunity around the world,” he writes.

One of the key pieces of Ryan's House-passed budget resolution this year is an overhaul of the corporate tax code that lowers rates while eliminating special interest tax breaks.

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