Senate Minority Leader Charles Schumer Chuck SchumerJacobin editor: Primarying Schumer would force him to fight Trump's SCOTUS nominee CNN's Toobin: Democrats are 'wimps' who won't 'have the guts' to add Supreme Court seats Republican senator says plans to confirm justice before election 'completely consistent with the precedent' MORE (D-N.Y.) said in an interview released Wednesday that he sees a path forward to working with the Trump administration and Republicans on tax reform if their current bill on the issue fails.

“There is a path forward, but only after this tax bill fails,” Schumer said on the "POLITCO Money" podcast.

“The hard right, which cares so much about just reducing taxes, has a stranglehold on the Republican Party right now. And I don’t think they’ll give it up unless this bill fails," he continued.

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The minority leader, who has known the president for years in New York City circles, in September reached a compromise with Trump to fund the government and raise the debt limit, much to the chagrin of congressional Republicans.

Schumer's comments come as congressional Republicans and the White House race to score their first major legislative victory of the year with tax reform.

Republicans are looking to put their stamp of approval on legislation that would slash individual and corporate tax rates, as well as do away with taxes that primarily affect wealthy Americans, such as the estate tax.

President Trump met with Republican senators on Capitol Hill on Tuesday to discuss the legislative road ahead, including tax reform.

“I’m really glad that the president came,” said Sen. Deb Fischer (R-Neb.), who sat with Trump at the head table, asked the president about tax cuts and emphasized her interest “in making sure that we have tax cuts for the middle class.”

Trump said on Tuesday and Wednesday that he received an enthusiastic welcome at the luncheon.

So nice being with Republican Senators today. Multiple standing ovations! Most are great people who want big Tax Cuts and success for U.S. — Donald J. Trump (@realDonaldTrump) October 24, 2017