On “Colorado Point of View” this Sunday, we sit down with U.S. Sen. John Hickenlooper, D-Colorado, who played a big role in passing that bill.
The passage of the Inflation Reduction Act comes as new numbers show inflation dropped to 8.5% in July.
Hickenlooper has praised the bill as “the largest climate rescue investment in the history of the planet.” But we asked him if it will help with inflation right now.
“It’s lowering prescription drug costs for seniors. It’s going to put a cap of $2,000, if you’re a senior citizen, on how much you spend on prescription drugs in the course of the year. It’s going to lower energy costs and make it cleaner energy,” Hickenlooper said. “This is all stuff that will take a long time to reduce inflation and maybe doesn’t immediately affect inflation.”
The Inflation Reduction Act also includes a $370 billion investment in clean energy over 10 years. We asked the senator how it will affect the thousands in Colorado who work in the oil and gas industry.
“This bill is filled with opportunities to, not just re-train, but looking at how do we create the new jobs that are going to come from this? How do we incentivize them to go to the same communities that have been hit hardest by what I call the ‘Great Transition’ toward clean energy?” Hickenlooper said. “Those jobs, you’re going to see them on the Western Slope of Colorado. You’re going to see them in many rural areas across America.”
You can see the full interview with Hickenlooper on “Colorado Point of View” this Sunday at 7:30 a.m. on Colorado’s Very Own Channel 2.
Source: Rocky Mountain News