INFLATION REDUCTION ACT
Michael helped craft the Inflation Reduction Act (IRA), which made the largest investment to confront climate change in history, reduces our deficit, and lowers costs for Coloradans.
The IRA will lower health care costs for Coloradans by requiring Medicare to negotiate drug prices and extending health insurance credits for over 150,000 Coloradans, as Michael proposed in his Medicare-X public option bill.
As the Chair of the Senate Finance Committee’s Subcommittee on Energy, Natural Resources, and Infrastructure, Michael championed boosting domestic energy production and clean energy tax credits in the IRA and ensured that rural Coloradans, and Tribal communities would have full access to those credits.
Michael secured $4 billion to address Colorado River Basin drought, and as Chair of the Senate Agriculture Committee’s Subcommittee on Conservation, Climate, Forestry and Natural Resources, he pushed to secure more than $20 billion for conservation measures and $5 billion for our forests to reduce wildfire risk, modeled after Michael’s Outdoor Restoration Partnership Act.
Michael also helped write the IRA’s 15% Corporate Minimum Tax to ensure the country’s 200 richest corporations pay their fair share.