WASHINTON D.C. (WTAQ) - House Republican Jim Sensenbrenner says Wisconsinites will be hurt in the long run by the 11th-hour compromise which prevents going over the fiscal cliff.
Sensenbrenner, of Menomonee Falls, was one of three Republicans who voted no when the House passed the measure late last night. Sean Duffy of Weston and Tom Petri of Fond du Lac were the others.
Sensenbrenner said Wednesday that the bill raises taxes without cuts in federal spending, since the mandatory cuts at the fiscal cliff were held off for at least two months.
Sensenbrenner said Congress must focus on cutting federal expenses and reforming the causes of the national debt – including entitlements.
In the meantime, he says the latest deal discourages economic growth and new jobs instead of encouraging them.
Sensenbrenner said it would only prolong a debt crisis that will cost taxpayers more in the long run. Two other Wisconsin House Republicans supported the compromise – Paul Ryan and Reid Ribble.
All three state House Democrats also voted yes, as did both Wisconsin senators.
It raises Social Security taxes by an average of $60 a month, by ending a temporary payroll tax cut which lasted two years.
Families making over $450,000 a year would pay higher income taxes.
A large consumer hike in milk prices was averted, along with lower unemployment benefits and smaller Medicare reimbursements to doctors.