Paul Ryan doesn't think he'll be anyone's running mate in 2016

Rep. Paul Ryan (R-Wisconsin) was the GOP's vice presidential candidate in 2012, but he doesn't think he'll be on the ticket in the next election.

After he became chairman of the powerful House Ways and Means committee last month, Ryan said he would not run for president in 2016. However, he did not rule out running for vice president.

At a question and answer session with reporters on Friday, Business Insider asked Ryan if would potentially consider being another candidate's running mate. Ryan indicated it's an unlikely possibility.

"That doesn't happen twice," Ryan said with a laugh. "I can't think of a time that's happened twice."

When Ryan ruled out running for president in 2016, he attributed the decision to a desire to focus on the Ways and Means committee.

"After giving it a lot of thought, I've decided not to run for president. Our work at the House Ways and Means Committee over the next few years will be crucial to moving America forward, and my job as Chairman deserves undivided attention," Ryan said.