“The most excited group out there are big CEOs,” said Gary Cohn.
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 thatoverlap 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.
It isn’t often that politicians admit that their failure to pass legislation will impact their ability to collect money for their campaigns. They usually try to avoid an appearance that campaign contributions are linked to specific legislation.
Lawmakers aren’t the only ones talking about the connection between legislation and campaign money. Conservative donors and those running the political groups that help elect Republicans have issued similar dire warnings.
“(Donors) would be mortified if we didn’t live up to what we’ve committed to on tax reform,” Steven Law, the head of Senate Conservatives Fund, a super PAC affiliated with Senate Majority Leader Mitch McConnell (R-Ky.), told the New York Post.
More: Republicans Admit That CEOs And Donors Really Need The Tax Cut Bill To Pass -- Or Else
Yep, it's all about the money and keeping their GOP donors happy - at the expense of regular people.
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 thatoverlap 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.
It isn’t often that politicians admit that their failure to pass legislation will impact their ability to collect money for their campaigns. They usually try to avoid an appearance that campaign contributions are linked to specific legislation.
Lawmakers aren’t the only ones talking about the connection between legislation and campaign money. Conservative donors and those running the political groups that help elect Republicans have issued similar dire warnings.
“(Donors) would be mortified if we didn’t live up to what we’ve committed to on tax reform,” Steven Law, the head of Senate Conservatives Fund, a super PAC affiliated with Senate Majority Leader Mitch McConnell (R-Ky.), told the New York Post.
More: Republicans Admit That CEOs And Donors Really Need The Tax Cut Bill To Pass -- Or Else
Yep, it's all about the money and keeping their GOP donors happy - at the expense of regular people.
