Speaking more broadly, the Virginia-based political historian questioned the limited progress made to date given that the Republicans currently control the House of Representatives, the Senate and the White House.

“The amount of time left in Washington DC to get anything done in this session is rapidly running out. Then there’s infrastructure, tax reform, all these other pet issues which of course were central,” he observed.

Also expressing concerns over the elapsing timeline was Mark Weinberger, global chairman and chief executive officer (CEO) of EY, who told CNBC’s Squawk Box last week that whether deregulation and tax reform actually gets done could “make or break the U.S. economy”.

“There’s only 80 legislative days left before the end of the calendar year and so they’ve got a lot of work to do to get this agenda off the ground,” noted Weinberger, saying that the idea would be for the Republicans to return from August recess with a tax reform plan ready to start pushing through Congress.

“The conventional wisdom is in a second year of the president’s term…it is harder to get these things done,” he added.

Facebook Comments