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Transcripts For CNNW Erin Burnett OutFront 20111221



i m erin burnett and outfront tonight, rejection and dysfunction. the house today rejecting the senate s plan to extend the payroll tax cut. now, that means that your taxes are going to go up somewhere between $700 and $2,300 next year unless, ooh, the big unless an all new congressional committee and it is an all new committee comes to the agreement by the year s end. president obama s approval ratings are up as congress falls on this, and he seized the moment today. but now, even though republicans and democrats in the senate were willing to compromise for the good of the country, a faction of republicans in the house are refusing to even vote on the senate bill. a bill that cuts taxes for 160 million americans. and because of their refusal to cooperate, all of those americans could face a tax hike in just 11 days. and millions of americans who are out there looking for work could find their unemployment insurance expired. and just for good measure the white hou ....

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