House Republicans have released their long-promised budget outline as they seek to

fulfill President Trump's agenda while cutting both the deficit and taxes.

But it remains unclear whether the plan will achieve those goals or if it even has the

votes.

Congressional correspondent Lisa Desjardin is here with the latest.

Good to see, Lisa.

We'll get into the details in a moment, but just a quick reminder, why does all this matter?

Right. What Republicans do or don't do will affect nearly every American taxpayer.

It will also determine for potentially a decade who the winners or losers are in this economy.

Corporations, what happens to them? What about the poor? And it will also tell us, is Congress ever

going to be serious about bringing down the deficit? All of that is at stake here. High stakes.

Okay, so now to the proposal, just walk us through it. There's been a lot of buildup and debate.

What exactly are House Republicans proposing? All right, we've got some numbers, so I'm putting

my glasses here. But first of all, I want to say this hasn't been easy, but Republicans finally cobbled this together today. It is a framework. It is a sweeping

plan at the start. This is what they say they want to do as their outline for tax cuts.

Four and a half trillion dollars worth of tax cuts over 10 years. Spending cuts, somewhere between

one and a half and two trillion. For the border and for ICE,

detention and deportations, $300 billion. That would be in effect almost immediately. Now, all of

this, you put that together, Omna, and it would end up increasing the deficit by most estimates of

$3 trillion. Republicans, there's an asterisk there to spute that because they say the economy will make up for that. We're going to get into all that context, I think, as we get

down the road. But the key part here is that Republicans are doing major tax cuts and also

major spending cuts. One of the programs that would be most on the chopping block,

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