Tax Cut Derailed
House vote spells likely end to payroll tax break.
House Republicans have punted the payroll tax cut back to Senate Democrats.
Speaker John Boehner refused to allow a vote on the Senate bill passed over the weekend.
That means 160 million Americans will be seeing a tax increase on January 1st unless there is a move for a compromise.
House Republicans are trying to shame vacationing Senate Democrats back to the bargaining table
after Speaker John Boehner refused a direct vote on the Senate bill.
Instead The House sent the legislation to a conference committee, but Democrats say they won't negotiate.
President Obama accused Republicans of brinksmanship.
"The clock is ticking and time is running out," he said. "If the House GOP refuse to vote for the Senate bill or allow it to come for a vote, taxes will go up in 11 days."
Not only will 160 million Americans see a tax increase, but 2.2 million people lose long-term unemployment benefits and 48 million seniors could lose Medicare doctor reimbursements.
Republicans are demanding a one-year extension, not just 60 days.
Democrats see other motivations.
"It's an excuse because they never wanted a tax cut from the beginning," complained House Minority Leader Nancy Pelosi.
Speaker Boehner has already named his negotiators for the committee, but Democrats say there will be no negotiation.