Bill Nelson: “this is, in effect, a massive transfer of wealth under the guise of tax reform and under repeating the statement: It…”

“this is, in effect, a massive transfer of wealth under the guise of tax reform and under repeating the statement: It will help the middle class. You can repeat a statement, but that doesn't mean it is true. You have to look at what the facts are. I think you have heard a number of the speeches that will refute this-- that it is not middle-class tax relief. It certainly isn't when a lot of those so-called tax cuts for the middle class will evaporate; they will cease to exist after 7 or 8 years. Let's take another part of this tax bill, the child tax credit. We are going to have a couple of amendments out of here on the floor tonight. We are going to have one that is going to increase the tax credit substantially, like $3,000 per child. When you compare that to the current existing Republican bill, they have a tax credit that, in fact, if you have more than three children, if you have a large family, you are going to be penalized. That is what the facts are. Let's see how the votes come later this evening on two amendments. One is a Democratic amendment, and one is a Republican amendment. As to the child tax credit, let's see what the majority of our friends who are trying to ram this through in the dead of night do. Let's see what happens, because, clearly, their tax bill does not do enough.…”