Michael has been working to allow Medicare to negotiate lower prescription drug prices, impose a minimum tax on billion dollar corporations, and relieve the effects of drought in Colorado
DENVER – Today, the Inflation Reduction Act was officially signed into law, marking a historic milestone for the United States to tackle climate change, lower prescription drug costs, fight inflation for hard-working families, and reduce the deficit.
“When Coloradans are struggling financially, they need this type of action from their representatives. Michael recognizes that there is always going to be more work to support hard-working families in Colorado, and his continued commitment to keep fighting for middle and lower-income Americans is reason enough for Coloradans to re-elect him this November.” – Bennet for Colorado spokesperson, Georgina Beven.
Signing the Inflation Reduction Act into law marks historic milestone that Michael has fought for:
- It is the largest single federal investment America has made to tackle climate change:
- Michael worked to secure $4 billion in drought funding to fund conservation efforts that will address the crisis on the Colorado River.
- It requires a 15% minimum corporate tax on the biggest corporations with profits over $1 billion.
- Michael has long believed that failed trickle-down economics have hurt working Coloradans, but the Inflation Reduction Act turns the page on this flawed ideology because it ensures the largest corporations in America are paying their fair share in taxes.
- Michael has long believed that failed trickle-down economics have hurt working Coloradans, but the Inflation Reduction Act turns the page on this flawed ideology because it ensures the largest corporations in America are paying their fair share in taxes.
- It will lower the cost of prescription drugs for Americans.
- The law extends the American Rescue Plan health insurance premium support for three years for Coloradans who rely on the Affordable Care Act, it allows Medicare to negotiate drug prices and caps prescription drug costs for seniors at $2,000 per year.
A core reason Michael is running for reelection this year is so he can continue his work in the Senate to build an economy that grows for everyone and not just the wealthiest few. This new law is a huge step forward in supporting hard-working families and Michael is energized to engage with Coloradans about how the Inflation Reduction Act will benefit them.
