BOULDER, Colo. — U.S. House Speaker Nancy Pelosi will visit the National Center for Atmospheric Research (NCAR) in Boulder Wednesday to tout the impacts of the recently-passed Inflation Reduction Act.
Pelosi will join U.S. Rep. Joe Neguse (D-Boulder) for a roundtable discussion about the impacts the act will have on scientific research and innovation across the country, Neguse's office said.
The roundtable is set for Wednesday afternoon.
Neguse and Pelosi will also tour the NCAR facility.
"The Inflation Reduction Act advanced several priorities for many Coloradans including $5 billion for forest and reforestation investments and wildfire mitigation programs, $4 billion for the Bureau of Reclamation to combat drought conditions across the West, and $2 billion for federal labs throughout the country," Neguse's office said in a press release.
President Joe Biden signed the bill into law earlier this month. It includes the most substantial federal investment in history to fight climate change — some $375 billion over the decade — and would cap prescription drug costs at $2,000 out-of-pocket annually for Medicare recipients. It also would help an estimated 13 million Americans pay for health care insurance by extending subsidies provided during the coronavirus pandemic.
The measure is paid for by new taxes on large companies and stepped-up IRS enforcement of wealthy individuals and entities, with additional funds going to reduce the federal deficit.
Republicans say the legislation’s new business taxes will increase prices, worsening the nation’s bout with its highest inflation since 1981. Though Democrats have labeled the measure the Inflation Reduction Act, nonpartisan analysts say it will have a barely perceptible impact on prices.
The Associated Press contributed to this report.
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