"It's not going to pass this house, the Senate," said Schumer. "It will be defeated here in the Senate."

Perhaps justifying Senate Majority Leader Harry ReidHarry ReidThis obscure Senate rule could let VP Mike Pence fully repeal ObamaCare once and for all Sharron Angle to challenge GOP rep in Nevada Fox's Watters asks Trump whom he would fire: Baldwin, Schumer or Zucker MORE’s (D-Nev.) decision to expedite the bill’s defeat by moving to table it, Schumer said the Senate ought not to waste much time on the legislation.

"Let's not waste five, six, seven, eight more hours," said Schumer. "Let's start negotiating something that will save this country from potential financial catastrophe now."