House Minority Leader Nancy Pelosi reportedly believes that if Republicans balk on tax reform, it will be enough to propel Democrats to take back the House in 2018.
If Republicans continue to fail to pass major legislation, “you [Democrats] will be in the majority,” Pelosi said in a closed-door meeting Thursday, Politico reports.
Republicans currently hold a 24-seat majority in the House, but Democrats are already angling to take that from Republicans in the next congressional election cycle. The Democratic Congressional Campaign Committee continues to out-fundraise its Republican counterpart, doing so on a near month-by-month basis.
House Republicans have been more successful than their Senate colleagues at passing major legislation during President Donald Trump’s first nine months in office. Speaker of the House Paul Ryan, along with a few conservative and moderate Republican leaders in the House, were able to pass a bill to repeal and replace Obamacare in May. The House is also angling to pass the Senate’s budget, a crucial first step in getting a tax reform bill to the president’s desk.
GOP leadership in Congress is selling its tax reform proposal as a big win for the economy, bringing about new jobs, higher wages and lower taxes.
Republicans stand to lose a lot more than simply a few seats if they fail to pass tax reform. Chief executive officers are threatening to withdraw investment in the U.S. if Congress does not deliver.
“We are investing in anticipation of Congress passing a tax reform bill,” David Farr, the chairman of the National Association of Manufacturers (NAM), recently told The Daily Caller News Foundation. “I think the key issue Congress has to understand is that we think something is going to get done, and if it doesn’t get done, the U.S. economy will be hurt.”
“We believe that he will deal with regulations, he will deal with infrastructure, he will have a plan for education, and will deliver on tax reform. My (Emerson Electric’s) capital spending this year is going to be up a little over 10 percent. Next year, I plan to raise it 15 percent,” Farr told TheDCNF. “Manufacturing is doing this now because we are thinking about higher growth in 2019 and 2020.”
While he says that his company and NAM members plan to keep up the pace of their investment, he told TheDCNF they can pull “it all right back out.”
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