Bill Nelson: “I thank Senator Biden for his comments on the introduction of this particular amendment. He has spoken to the stimulus…”

“I thank Senator Biden for his comments on the introduction of this particular amendment. He has spoken to the stimulus of the tax package and why we need in a declining economy, which, of course, we hope rebounds, but because there is an indication that the economy is on the decline, we don't need a tax cut to take effect mainly in the last 5 years of the next decade; we need it to take effect now, to inject some financial, some fiscal stimulus into the economy so we can come out of the slump. That is what Senator Biden has addressed. I wish to address another part of this particular amendment, and that is the part of debt reduction, because this amendment takes a portion from the President's proposed tax cut, lowers that tax cut, changes the nature of that tax cut to an immediate fiscal stimulus, and has further a reduction of the national debt down to a level of approximately $500 billion after the decade, after the 10-year period for which we are planning. Now, why is this important? First of all, it is very important because that is what the people of America want.”