A first step is now in place for the Republican Party's spending and tax agenda.

I'm David Bruncacho in New York. The Republican-controlled House has defied predictions of deadlock and advanced the party's signature legislative package.

The House narrowly approved, a resolution that includes $4.5 trillion in tax cuts and some $2 trillion in spending

cuts over a decade. Now, this is the House of Representatives. There's still the Senate where there's a

push for more tax cuts. Here's House Speaker Mike Johnson. This is the first important step,

and opening up the reconciliation process. We have a lot of hard work ahead of us, but we are going to deliver the American First Agenda.

We're going to deliver all of it, not just parts of it.

Washington-based analyst Karen Petru is co-founder of managing partner of Federal Financial Analytics.

What's actually in there is, I think, $800 billion of cuts that the Energy and Commerce Committee has to make, and they get to decide how they want to make it.

I haven't seen the bill yet.

Maybe there are more instructions in it than there were yesterday.

But now it's up to the committee to make those numbers work, and it's very hard to do just out of Medicaid.

But on the other hand, the politics of touching where the real money is, which is Medicare and Social Security, is toxic.

So this is the challenge the Republicans have because this time around, the Democrats aren't going to help them one teeny little bit.

You just heard the House Speaker.

It's not a slam dunk going forward.

The Senate will have some views about cutting taxes more.

Well, yes, but this was astonishing.

The Republicans control the House.

I think Speaker Johnson demonstrated he did.

He got all but one dissenting Republican to sign on to a very controversial package.

We will have to see the details. A lot of deals got made under the cover of the big picture

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