Republican donors ‘Mad as Hell’: the real economics driving the GOP’s frantic tax push

[ Originally published on this site as post ]

No serious economists believe the GOP’s tax bill will drive economic growth. N(one). Almost twice as many Americans oppose the bill as support it, with support flagging in multiple polls. Yet Republicans are barreling toward passage at warp speed, ignoring North Korea’s missile launch, the collapse of the State Department and American diplomacy, and the anti-Muslim Trump tweets that caused an international incident. Why?

Almost entirely because their fundraising coffers are starting to run dry. It’s not the economy, stupid, it’s the donors. Check out this “Mad as Hell” reporting from Mother Jones’ Russ Choma documenting the complete collapse of the GOP fundraising pipeline.

The Bundler: Republican lobbyist Bill Miller from Austin, TX

“I’m not saying they’ve cut them off for good, but they have cut them off temporarily,” Miller says. “This conversation has been repeated more than a few times, ‘Not going to give right now, Bill, I’m just mad. Nah, not going to give right now.’”

The Donor: Arizona-based oil drilling CEO, Dan Eberhart

He donated about $200,000 in the last election to campaigns and super-PACs. Much of that, he directed to the Republican Party itself: $70,000 to the Republican National Committee and $15,000 to the National Republican Senatorial Committee, the party’s campaign arm supporting Senate candidates. This year, he’s holding back. […]

“I don’t know why donors should give to the NRSC until tax reform is passed,” Eberhart says. “Thanks for [Supreme Court Justice Neil] Gorsuch, but you haven’t otherwise used the majority.”

The Machine: The National Republican Senatorial Committee & Republican National Committee

Through the first six months of 2017, the NRSC raised an average of $4.6 million per month. But since July, after the GOP’s effort to repeal Obamacare flopped, it has raised an average of $2.1 million.