With only ten days until the payroll tax cuts expire, pressure is mounting on House Republicans for their opposition to a bipartisan agreement which would extend those cuts. The cuts, if allowed to expire, would mean an increase of about $40 per paycheck for the average American family, amounting to about $1,000 more in a year. Many in the GOP fear the issue is damaging to their anti-tax reputation.
The divisive issue has caused opposition within the Republican party. Arizona Sen. John McCain criticized the House GOP’s stance, saying, “The Republicans are losing this fight. We need to get back on track. A thousand dollars a year is a big amount of money to most Americans, and I think it’s very important. … I worry about the fact that we are continuing to increase the debt and the deficit, but now it’s become very symbolic, and I think it has to be done.”
