The following is an excerpt from Paul Blumenthal | November 9, 2017 | Huffingtonpost.com |
WASHINGTON ― The White House and congressional Republicans have sought to portray their tax plan as primarily a middle class tax cut. But lately, some of them have been admitting that big money political donors and wealthy CEOs, two groups that overlap heavily, are the ones who care about it the most.
“The most excited group out there are big CEOs, about our tax plan,” Gary Cohn, the leading White House economic adviser and former chief operating officer at Goldman Sachs, said in an interview with CNBC on Thursday.
Cohn’s statement is no doubt true ― it just isn’t exactly the message Republicans want to send as they argue that their bill isn’t just a sop for the rich and powerful. But over the past few weeks, several Republicans have indicated that the tax bill would boost the wealth of the already rich and ensure that their political donations keep flowing to help the GOP hold power in 2018.
“My donors are basically saying, ‘Get it done or don’t ever call me again,’” Rep. Chris Collins (R-N.Y.), himself a millionaire, said on Tuesday.
Sen. Lindsey Graham (R-S.C.) told reporters on Thursday that a failure to pass tax reform would fracture the Republican Party and lead to more far-right wing primary challengers. “The financial contributions will stop,” he added.
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