While Colorado’s U.S. senators are taking a victory lap after passing a bill heralded as the largest climate change investment in history, the Republican nominee challenging Michael Bennet is…
While Colorado’s U.S. senators are taking a victory lap after passing a bill heralded as the largest climate change investment in history, the Republican nominee challenging Michael Bennet is labeling it a tax on lower-income Americans.
Senate Democrats boast the bill only raises taxes on high income earners and the largest corporations, while pushing down carbon emissions by 40% in the next decade,. It also achieves a longstanding goal of the party in allowing Medicare to negotiate pharmaceutical prices. The bill also establishes a 15% minimum tax on the country’s largest corporations. Bennet heralded the provision as a reversal of trickle-down economics that has long dominated economic theory on the right, including tax cuts signed by President Donald Trump in 2017.
“The fun part about this is, you can get a different answer depending on who you ask,” John Buhl, an analyst at the Urban-Brookings Tax Policy Center, told CNBC.
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