Don Nickles: “this amendment increases taxes by $17.2 billion. It increases taxes next year by $13.2 billion. For the information of…”

“this amendment increases taxes by $17.2 billion. It increases taxes next year by $13.2 billion. For the information of colleagues, we are assuming next year, on the reconciliation, which is all that is going to happen this year--or maybe all that will happen--that is the total child credit, it so happens. Some people say, well, this is assuming revenue loophole closings. That is not accurate. This resolution says increased taxes by $17.2 billion. We are assuming that the child credit is going to stay at $1,000 per child. So these two are in direct conflict. I want everybody to know this is a big spending increase in an area where we already have big spending increases--enormous, if you go over the last few years. In spite of that, it is a big tax increase. In fact, it is a lot bigger tax increase than the amendment we voted on yesterday. I want people to know this is a tax increase that is very large.”