Claudia Grisales

Thanks for having me, Scott.

Thanks for having me, Scott.

Right. This is a blueprint for a multi-trillion dollar measure that could become a hallmark of Trump's second term. It reimagines defense, energy, immigration and tax policy spending. So lots of major elements here. That includes an extension of tax cuts passed during Trump's first term that are set to expire by year end.

Right. This is a blueprint for a multi-trillion dollar measure that could become a hallmark of Trump's second term. It reimagines defense, energy, immigration and tax policy spending. So lots of major elements here. That includes an extension of tax cuts passed during Trump's first term that are set to expire by year end.

Right. This is a blueprint for a multi-trillion dollar measure that could become a hallmark of Trump's second term. It reimagines defense, energy, immigration and tax policy spending. So lots of major elements here. That includes an extension of tax cuts passed during Trump's first term that are set to expire by year end.

Republicans argue Americans would see their tax bills rise without it, but critics say it will come with a huge price tag that would raise the federal deficit. It would also lift the U.S. debt limit by $5 trillion to avoid a breach this summer. And without that, we could be looking at a default. So a big concern there they're hoping to address.

Republicans argue Americans would see their tax bills rise without it, but critics say it will come with a huge price tag that would raise the federal deficit. It would also lift the U.S. debt limit by $5 trillion to avoid a breach this summer. And without that, we could be looking at a default. So a big concern there they're hoping to address.

Republicans argue Americans would see their tax bills rise without it, but critics say it will come with a huge price tag that would raise the federal deficit. It would also lift the U.S. debt limit by $5 trillion to avoid a breach this summer. And without that, we could be looking at a default. So a big concern there they're hoping to address.

But we should also note this is just the beginning of a very long, complicated process known as budget reconciliation. And that includes a series of legislative hurdles designed to overcome a Senate filibuster.

But we should also note this is just the beginning of a very long, complicated process known as budget reconciliation. And that includes a series of legislative hurdles designed to overcome a Senate filibuster.

But we should also note this is just the beginning of a very long, complicated process known as budget reconciliation. And that includes a series of legislative hurdles designed to overcome a Senate filibuster.

Maybe, but it's clearly looking to shape up to be an uphill battle. The house has their own blueprint, and there's big differences between the two chambers they're going to need to sort through. And by big, they're more than a trillion dollars apart in their blueprints.

Maybe, but it's clearly looking to shape up to be an uphill battle. The house has their own blueprint, and there's big differences between the two chambers they're going to need to sort through. And by big, they're more than a trillion dollars apart in their blueprints.

Maybe, but it's clearly looking to shape up to be an uphill battle. The house has their own blueprint, and there's big differences between the two chambers they're going to need to sort through. And by big, they're more than a trillion dollars apart in their blueprints.

Now, if both sides can sort those differences, they'll move to pass one final blueprint, start crafting actual text for this massive plan, then try to pass that plan in both chambers on very tight margins. So while there's this lower vote threshold in the Senate, congressional Republicans need to stay virtually united with little room for error.

Now, if both sides can sort those differences, they'll move to pass one final blueprint, start crafting actual text for this massive plan, then try to pass that plan in both chambers on very tight margins. So while there's this lower vote threshold in the Senate, congressional Republicans need to stay virtually united with little room for error.

Now, if both sides can sort those differences, they'll move to pass one final blueprint, start crafting actual text for this massive plan, then try to pass that plan in both chambers on very tight margins. So while there's this lower vote threshold in the Senate, congressional Republicans need to stay virtually united with little room for error.

Well, Senate Republicans say they want to make those Trump tax cuts permanent, and they claim it will not increase federal debt through an accounting tactic. But even Republican fiscal hawks in the House are not buying it. Then the Senate blueprint aims to reduce the deficit by around $4 billion. That's a small fraction of what House Republicans want to do. They want to cut at least $1.5 trillion.

Well, Senate Republicans say they want to make those Trump tax cuts permanent, and they claim it will not increase federal debt through an accounting tactic. But even Republican fiscal hawks in the House are not buying it. Then the Senate blueprint aims to reduce the deficit by around $4 billion. That's a small fraction of what House Republicans want to do. They want to cut at least $1.5 trillion.

Well, Senate Republicans say they want to make those Trump tax cuts permanent, and they claim it will not increase federal debt through an accounting tactic. But even Republican fiscal hawks in the House are not buying it. Then the Senate blueprint aims to reduce the deficit by around $4 billion. That's a small fraction of what House Republicans want to do. They want to cut at least $1.5 trillion.