The 411 On The Payroll Tax Debate! (LIST)

The payroll tax debate is the last fight President Barack Obama has to endure before 2011 ends.

Unfortunately the Prez is having a hard time trying to convince his boy Republican House speaker John Boehner to extend the payroll tax cut and jobless benefits for millions of Americans.

STORY: Barack: It Ain't About the 99% Or The 1%!

But what exactly is the Payroll Tax? For those who aren’t in the political circles of Washington, it actually affects all

Americans who collect a check.

Late last year, Obama and Congress struck a deal to reduce the Social Security payroll tax from 6.2 percent to 4.2 percent in 2011. This means that working Americans who collect a check paid 4.2 percent of Social Security payroll tax.

Now, President Obama and leaders of both parties want to extend the tax cuts and jobless benefits and other reimbursements for an entire year.

On Tuesday, the Republican led House moved to reject a Senate plan to extend the payroll tax cut for two months.

House Republicans want to extend the payroll tax cut for all of 2012, but also want to slash other spending to help pay for the tax break, which the Democrats don’t want.

So for the non-insiders here's a quick breakdown about the current payroll tax fight in Washington.