Tom Harkin: “My amendment simply holds the size of the tax cut to $350 billion. Any tax cuts beyond $350 billion would have to be…”

“My amendment simply holds the size of the tax cut to $350 billion. Any tax cuts beyond $350 billion would have to be offset under my amendment or they would face a budget point of order requiring 60 votes. Many colleagues may say, wait a minute, I thought that was what the underlying amendment does. The underlying amendment still allows for $940 billion in tax cuts in the future. It does reduce down to $350 billion the amount of tax cut under reconciliation, but it still allows for $600 billion more in tax cuts. My amendment says $350 billion, and cap it at that. No more. Any tax breaks beyond that would either have to be offset or it would require 60 votes to overcome a point of order. It is very simple. It is a cap of $350 billion on tax cuts.”