Washington Post Economics Correspondent Heather Long: “The vast majority of these listeners are going to get a tax cut or see no change at all”

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

WASHINGTON, DC - APRIL 26: Secretary of the Treasury Steven Mnuchin (R) and National Economic Director Gary Cohn speak about President Trump's new tax reform plan, at the White House, on April 26, 2017 in Washington, DC. (Photo by Mark Wilson/Getty Images)

Washington Post Economics Correspondent Heather Long joins John to explain what happens now that the Republican tax plan has passed the House and makes its way to the Senate. That includes what will cause the country’s estimated $1.4 trillion debt, and what tax deductions will be eliminated from your tax forms.