Reid lays payroll tax-cut trap for Republicans

"In 2009, Sen. McConnell went on to say that, 'Republicans, generally speaking, from Maine to Mississippi, like tax relief,' " said Reid. "Yet Republicans already appear poised to block this legislation."

The plan, proposed by Obama, would cut payroll taxes to 3.1 percent as well as halve the 6.2 percent tax paid by employers on the first $5 million of their payroll. Overall, the plan is expected to cost about $248 billion and would be paid for by charging a surtax on Americans who earn more than $1 million annually.

Republicans opposition to the bill, however, is focused on the pay-for mechanism, a "surtax on millionaires," which applies a 3.25 percent tax on modified adjusted gross income over $1 million, or $500,000 for a married individual filing separately. This tax would take effect in 2013.

Similar pay-for mechanimsm have sunk fragments of the Obama jobs bills already taken up by the Senate earlier this year.