Republicans got a fiscal bill through the House on Thursday. It’s a complex piece of legislation that includes tax cuts, spending increases, spending reductions and some tax hikes. In total, it would increase budget deficits by nearly $3 trillion over a decade.

The tax cut package that passed the U.S. House, which President Trump has dubbed the "big, beautiful bill," may change before it becomes law.

One of the thorniest issues in negotiations had been how much to raise the state and local tax deduction, now capped at $10,000. That’s been a priority of New York lawmakers. Th