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Is there room in a crowded primary for a billionaire? What about one who almost certainly won't make the next debate? Those are among the big questions Tom Steyer's late entry into the Democratic presidential primary field poses for Democratic voters.

Guest: Gov. Steve Bullock of Montana

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* ABOUT JONATHAN KARL: Jonathan Karl is ABC News Chief Washington Correspondent and Chief White House Correspondent, contributing to all ABC News broadcasts. Karl has covered every major beat in Washington, including the White House, Capitol Hill, the Pentagon, and the State Department. Karl covered all the major candidates in the 2016 election, including the first interview with Donald Trump of the 2016 election cycle.

* ABOUT RICK KLEIN: Rick Klein is Political Director of ABC News, leading the network's political coverage and planning, and serves as an on-air political analyst across ABC News platforms. Klein joined ABC News in 2007 from The Boston Globe, where he most recently covered Congress and national politics.

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