On the corporate side, Scott said, main points of debate will focus on whether to allow companies to fully deduct their spending on new facilities and equipment -- instead of doing so over time -- and on whether or how to limit the deductibility of corporate interest payments. The tax framework calls for corporate interest deductions to be “partially limited,” without providing any details.

Senator David Perdue, a Georgia Republican who also appeared at the Koch policy meeting, called the full expensing provision, which the framework would limit to just five years, “a tax gimmick.” House Speaker Paul Ryan and House Ways and Means Chairman Kevin Brady have proposed the change -- which in effect would accelerate companies’ ability to recover the costs of their investments -- as a way to stimulate growth.

Yet Perdue said he finds the fact that lawmakers are even considering the expensing provision at “this late hour” troubling -- a sign that Republicans have to rapidly reach agreement on tax legislation.

‘Minority Party’

If the GOP fails to deliver a tax bill that stimulates the economy, “we’ll be the minority party for the next 15 years to 100 years just like we’ve been for the last 100 years,” said Perdue, the former chief executive officer of Reebok athletic brand and of Dollar General Corp.

Senator Ted Cruz of Texas reiterated what a tax bill failure would mean for the GOP majority at the policy meeting.

“If tax reform crashes and burns, if on Obamacare nothing happens, we could face a bloodbath,” Cruz said. “Why? Because the left is energized, is ticked off. They’re showing up.”

Governor Scott Walker of Wisconsin said he was concerned that failure could spill over to state-level elections, hurting Republicans in “governors and state legislators’ races across the country.”

While billionaire industrialists Charles and David Koch and their network didn’t support President Donald Trump’s campaign, the network says it supports the principles outlined in the tax framework. Tax overhaul is the top priority for the Koch network, which plans to spend about $400 million on Republican candidates and causes during the 2018 election cycle.

The network won’t draw any “red lines” on changes to the tax laws; it’s simply pushing to get rid of carve-outs for special interests and lower tax rates across the board, said James Davis, a spokesman for the Koch political network.