Bill Includes Historic Climate Investment, Provisions to Lower Drug Prices, And Bennet’s Plan to Enact a 15% Corporate Minimum Tax
Washington, D.C. – Today on the Senate floor, Colorado U.S. Senator Michael Bennet called for swift passage of the Inflation Reduction Act, legislation to make the largest investment to fight climate change in history, reduce the U.S. deficit, lower prescription drugs and health care costs and help fight inflation for hard-working Coloradans.
“This bill will lower costs for millions of families at the pharmacy, at the pump, and on their monthly energy bills and insurance premiums,” said Bennet in his speech. “It will do…more to achieve energy independence and fight climate change than anything that we have ever done.”
“Every provision in here is a victory for common sense, and a victory for the American people over special interests and the status quo,” said Bennet. “Frankly, I don't know how…people could go home and say they voted against a balanced approach to achieve energy independence, fight climate change, and lower costs for families at this moment in our history.”
This bill requires Medicare to negotiate drug prices for the first time ever to lower prescription drug prices for the American people. It makes a historic investment in climate and clean energy, including policies based on several of Bennet’s proposals, and will help cut energy costs while reducing America’s dependence on foreign, oil-rich dictators. It invests $25 billion in the health of forests and working lands to put Colorado’s rural communities at the forefront of the fight against climate change, and $14 billion to help rural communities transition to clean energy. Additionally, it includes Bennet’s proposal to establish a 15% corporate minimum tax to make sure the biggest corporations pay their fair share.
Bennet’s full speech is available HERE.