U.S. Budget Deficit Reaches $319 Billion as Spending Outpaces Revenue

The transcript discusses the significance of a major issue to taxpayers, particularly in New York and New Jersey, while noting that other states are less concerned. It highlights complaints from Congress members and the unlikelihood of the issue reaching President Trump's desk due to funding challenges. The discussion covers potential policy tweaks and the possibility of the issue's permanence. It also examines the political landscape, mentioning that progressive candidates like Elizabeth Warren may not support removing a tax limitation benefiting higher-income individuals.

What are the potential political implications of the deal mentioned?

What is the likelihood of the tax limitation being removed according to the text?