The current payroll tax cut extension expires at the end of the month – and would lead to 160 million Americans being hit with a tax increase if lawmakers can’t come up with a deal. The sticking point in the debate is how to pay for the tax cut – something Republicans never demanded when the issue was whether or not to extend the Bush tax cuts for millionaires and billionaires in 2010.
Republicans want to cut spending elsewhere in the budget – while Democrats want a small surtax placed on people who make more than a million bucks to offset the costs. But since nearly every single Republicans has signed a pledge with millionaire lobbyist Grover Norquist to oppose any tax increase – they aren’t budging. So when it comes to either helping the economy by giving 160 million Americans a little more money in their pockets or helping the 1% keep their extraordinarily low tax rates – Republicans side with the 1% every single time.