In this Feb. 15, 2012, file photo, House Majority Leader Eric Cantor of Va., gestures during a news conference on Capitol Hill in Washington(AP Photo/J. Scott Applewhite, File)

WASHINGTON (AP) — Republicans are calling it “Taxmageddon,” the big tax increase awaiting nearly every American family at the end of the year, when a long list of tax cuts are scheduled to expire unless Congress acts.

It would be, GOP leaders in Congress say again and again, “the largest tax increase in American history.”

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