DENVER (KDVR) — Reaction is pouring in around Colorado just one day after lawmakers on Capitol Hill were able to pass a major climate bill with other sweeping reforms inside.
The bill passed along party lines, getting the approval of every Democrat and the rejection of every Republican. Here in Colorado, both the GOP and Democratic senators who worked on the bill say they wanted to see a little more for Coloradans.
“I didn’t get everything I wanted in this bill, neither did Joe Manchin, neither did Kyrsten Sinema,” U.S. Sen. Michael Bennet said. “What I wanted was something very different than what my Republican opponents want. What I wanted was to reverse the Trump tax giveaways for the wealthiest Americans. We didn’t do that.”
The state’s Republican Party is asking why Bennet did not push for things like keeping the Bureau of Land Management or Space Command headquarters in Colorado.
Bennet said he did work to negotiate to get some items passed in the plan.
“This bill is full of work that I’ve done over the years. From the forestry money that I’ve talked about earlier, to the conservation money that is going to benefit farmers and ranchers, to the 4 billion that will be able to benefit the upper basin of the Colorado [River] and the lower basin as well,” Bennet said.
Bill addresses climate, health care, taxes
U.S. Sen. John Hickenlooper proposed a 1% excise tax on stock buybacks to help get Democrats to an even number of votes on the measure. In it, senators were able to designate nearly $370 billion to fight climate change, cap Medicare out-of-pocket costs at $2,000 and impose a 15% minimum income tax on the largest U.S. corporations.
Even with the compromise, some Democrats ended up siding with Republicans on insulin, pushing the proposal to cap those costs for another day.
“I don’t why Republicans did that, it just boggles my mind,” Bennet said. “But we got it done for seniors and now we’re going to have to keep fighting. We know it’s another clear distinction between the Democrats and Republicans between who is fighting for the American people.”
Many have been asking if this bill lives up to its name: the Inflation Reduction Act.
The senator said the bill has billions to reduce the deficit but families should look to long-term healthcare and energy relief in the future this bill is designed to kickstart.