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"I'm not here to predict we will," the Charlotte Democrat told the Uptown Democratic Forum. "But I wouldn't be surprised."
Watt suggested numbers that might bode well for his party as it tries to regain the 25 seats it needs for control:
-- 54 Republicans won with less than 55 percent of the vote.
-- 61 won districts President Obama carried in 2008.
-- And 14 of them won districts carried by both Obama in 2008 and Democrat John Kerry in 2004.
He defended the 2010 health care law, which the new Republican-controlled House has voted to repeal. And he defended his vote in December for a bill that extended tax cuts for wealthy Americans. Many liberals opposed the bill.
Watt pointed to parts of the bill that extended unemployment benefits and cut the payroll tax for a year.
"It had a lot more in it for everyday, average working people than it did for rich people," he said.