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Trillion in deficit reduction through 2020 and that's in discretionary spending, the programs that congress has to approve each year and medicare and medicaid and civil service pensions. and, there is also the debt commission also wanted to raise more revenue through tax reform. and this effort by the six republican and democratic senators will set up a framework in which lawmakers have to go and find this deficit reduction and if they didn't there would be consequences in the form of automatic spending cuts and automatic tax increases in the form of the automatic revenue raisers by cutting ba...

Expect to see. >> we're working through some of the top priorities. i think you can expect welfare reform infrastructure, immigration reform, all to be top of line and something that they'll be looking at and talking about a lot over the first part of next year. reporter: one thing the spending bill included was a pay cobill. if federal legislation adds to the deficit it has to be paid by spending cuts. the waiver was important to republicans because it essentially allowed president trump to immediately sign the tax reform bill without automatic spending cuts hitting things like medicare. with...

Latest updates on this topic from reliable sources.

Latest updates on this topic from reliable sources.

Latest updates on this topic from reliable sources.