Taxes increased for almost all Americans at midnight last night.
Since then, half of the American government, the Senate, approved a bill that would cut taxes for many of those Americans.
The bill has been sent to the other half of the American government, the House of Representatives, so it can be signed into law.
But Republicans in the House of Representatives are disgruntled about the Fiscal Cliff bill the Senate approved and are threatening not to approve it.
The Senate bill calls for massive tax cuts for most Americans, including the investor and owner class (dividend taxes will be much lower under the Senate bill than they are under the law that took effect last night).
This puts the Republicans in an odd position, considering that the party's primary mission is to cut taxes:
Taxes have already gone up.
So the Republicans are now the only thing standing between America and a gigantic tax cut.
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