President Obama quote
What's at stake

Unless Congress takes action, taxes for middle class families will go up on January 1st.

As part of the American Jobs Act, President Obama has asked Congress to extend a payroll tax cut that will allow working families to bring home more money.

So far, Republicans are blocking the President's proposal.

Right now, workers contribute 4.2 percent of their wages to Social Security. The normal rate is 6.2 percent, and if the House of Representatives doesn't take action, that's what we'll pay in 2012.

That would mean that a typical American family making $50,000 a year pays $1,000 in extra taxes next year.