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Retired Secret Service agent Dan Bongino said the Republican legislators on Capitol Hill must pass tax reform or face widespread electoral losses.

After passing the Senate last night with all Republicans but Sen. Bob Corker of Tennessee voting in favor, the bill now goes to conference committee to hammer out differences between the approved House and Senate versions.

"They damn well better [be successful] or I'm serious - this party's toast, at least in the short term," Bongino, a former Congressional candidate for the Maryland panhandle, said.

He said Republicans "blew" their promise to repeal ObamaCare and need this victory to keep their standing with the American people.

"They face planted... boom," he said of the ObamaCare repeal failure.

He said the tax reform plan is not perfect but that America is "on the verge of something special" if it passes and is signed by President Donald Trump.

Bongino said that if the Senate's inclusion of a repeal of the ObamaCare individual mandate makes it through conference, it will be a windfall for taxpayers.

"The ObamaCare tax was paid by people making $75,000 per year... If we get rid of that too, this thing's a gold mine," he said.

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