The payroll tax cut that effects about 160 million people is expected to expire at the end of the year. The cut, which represents about $95 billion a year is a break from payroll tax. Economists say that allowing the cut to expire could have a large effect on the economy. The average family has $1,000 in extra income due to the tax cut. Congress is not expected to make a deal on the payroll tax cut or the Bush tax cuts before they expire, leaving the effects of those decisions uncertain.
See "Payroll Tax Cut Is Unlikely to Survive Into Next Year", Annie Lowrey, The New York Times, September 30, 2012