Uploaded on Dec 22, 2011
House Republicans have rejected a compromise package on extending a payroll tax cut. Unless congress can break the impasse, working Americans will see a payroll tax hike of two percent starting January 1st, 2012.
Barack Obama has blamed Republicans for opposing the extension, even after he has compromised on the issue of the Keystone XL pipeline project. However, this was not enough for Congressional Republicans, who has come up with their own one-year extension proposal.
But the Senate has already gone on holiday. With nobody to work with the House and the deadline of January 1st fast approaching, it looks like Americans will be getting a most unwelcome late Christmas present...a tax hike.
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