Tax Battle Continues

Thursday, December 22, 2011 - 11:54am

The House continues to fight for more negotiation on the tax bill.

Today, President Obama is dialing up the pressure on Republicans in the showdown over a payroll tax cut extension.

The tax cut is set to expire on January 1st, if feuding house Republicans and Senate Democrats can't work out a deal.

The Senate has already gone home for the holidays.

House leaders are staying in the Capitol and digging in for a fight.

Neither side seems willing to bend, and the clock is ticking down.

While his family is in Hawaii, President Obama is staying here in the Nation's Capital to battle Republicans over the payroll tax cut.

He's taking to Twitter, asking Americans what they'd do with an extra $40.00 in their pay check, and holding an event later today with some of the 160 million Americans who will pay if Republicans don't pass a bill before January 1st. "The House needs to act. They're not behaving in the interest of the country," said White House Press Secretary Jay Carney.

The Senate passed a tax cut bill before leaving on vacation, but House Republicans want one-year extension - not two months - and they're pressuring the senate to get back to the bargaining table. "To work with us to resolve our differences so we can do what everybody wants to do," said House Speaker John Boehner, (R) Ohio.

The House is refusing to go home, and ignoring Democratic demands to vote on the Senate bill.

In Washington, political theater, with a cliffhanger.

Without some compromise, taxes will go up in just nine days.

Brian Mooar, NBC News.

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