Tax bill seen as victory by Trump, GOP

ABC News' chief political analyst Matthew Dowd and "The View" co-host Meghan McCain analyze the potential momentum and downfalls for President Trump and Republicans as tax overhaul moves to House-Senate reconciliation.
3:00 | 12/04/17

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Transcript for Tax bill seen as victory by Trump, GOP
Let's break down the political fallout with Matthew dowd, Megan McCain, let me begin with you. Right now the bill is pretty unpopular but Republicans calculated they just could not afford to go home without a big win this year. Yeah, this is a -- a big legislative win, the most significant for the trump administration and something to take home to your constituents. I came on the show saying I think it will be a hard pass. I don't see how we can do this especially after the failure of the Obamacare repeal and replaceme replacement. I think Democrats will turn this into an impeachment election and say, look, we ended up passing something. Democrat, though, Matt dowd, said they want to run on the tax bill as well saying it's going to be a giveaway to the wealthy. Many in the middle class will get a tax increase. Well, yeah, when you look at this tax bill, 70% of the benefits of this tax bill go to the very wealthy, the top 1% or 2% of the country like an alternative version of dickens' a Christmas Carol where he doesn't listen to Jacob Marley and the three ghosts of Christmas past and proceeds on his way. This may be a legislative victory but it's not a political victory. It's an unpopular bill, most unpopular tax bill ever passed. Pushed by an unpopular president. Passed by an unpopular congress. It is a great benefit for the Democrats to run on this in 2018. Meantime, Matt, seeing the president out tweeting his most explicit endorsement yet for Roy Moore, that Alabama senate candidate up for election next Tuesday. This is an amazing situation, George, where I. One, you had the Mitch Mcconnell this weekend basically say it's up to Alabama after he said he shouldn't serve. Now the president a full on endorsement of a man accused of being a child predator in the state of Alabama. This is a situation where the Republicans may win this seat. It's still very competitive. But they may win this seat but they will lose the war in the long run because in the party and in the country today this is going to brand them as party that is not in the benefit of women in this country. Yeah, Meghan, when I was talking to Mitch Mcconnell on "This week" he backed away saying it's up to the voters of Alabama to decide and would not commit to ordering an investigation. This could be a long-term problem. Oh, this is -- no matter win or lose and I believe that Roy Moore is going to win. It's going to be a lose/lose situation for Republicans. What fascinates me all the polling coming out showing that a large majority of Alabama Republican voters don't believe the media's take on Roy Moore which I think goes to show just about the, you know, complete and total lack of trust of the media and the coverage of this and I've been trying to explain it it's not even about Roy Moore anymore. It's about people judging alabamans and I think going forward I have personal friends living in Birmingham talked to over the weekend struggling with this saying I've never not voted in this election. What am I supposed to do. The woman, my friend does but still, can't somehow bring herself to vote for someone who is pro-choice. Meghan McCain and Matthew dowd, thanks very much.

This transcript has been automatically generated and may not be 100% accurate.

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