Kevin Lamarque | Reuters
President Donald Trump gives a thumbs-up as he in addition to Vice President Mike Pence depart the U.S. Capitol after a meeting to discuss tax legislation with House Republicans in Washington, November 16, 2017.
There will be little room for Republican defections within the Senate, where the party only holds a two-seat majority. On Thursday, Sen. Ron Johnson, R-Wis., told CNBC he would certainly not vote for the measure in its current form. He said he wants to fix which to ensure he can support which.
Meanwhile, GOP Sens. Susan Collins of Maine, Bob Corker of Tennessee in addition to John McCain of Arizona have voiced concern. They have not said whether they would certainly ultimately vote for the bill.
“If you start seeing more people talk about defecting as Republicans which gets definitely hard to figure out how which gets put together within the Senate,” Fagen said.
However, she said the “psychology of winning” the vote on Thursday was very important.
Fagen also said Senate leadership will work things out with Johnson because they can’t afford to lose him.
David Bahnsen, chief investment officer at HighTower Advisors Bahnsen Group, agrees.
“Senator Johnson will be not going to get everything he wants. nevertheless I think he’s going to get enough to get him on board in addition to probably improve the bill within the meantime,” he said in an interview with “Closing Bell.”
If the Senate passes its bill, the two chambers will have to craft a joint plan before Congress can pass final legislation.
Terry Haines, senior political strategist at Evercore ISI, said the chances of tax reform’s ultimate success will be pretty high.
“There’s going to be a little bit of horse-trading which goes on nevertheless fundamentally what which will be about will be holding onto structure of aggressive corporate tax cuts, the individual tax cuts … in addition to keeping which within budgetary lines of which smaller static increase in deficit which’s been agreed to by the House in addition to the Senate,” he told “Closing Bell.”
— CNBC’s Berkeley Lovelace in addition to Jacob Pramuk contributed to which report.