Cutting Costs for Colorado

Colorado families are being squeezed from every direction. Housing is out of reach, childcare now costs what college used to, and the cost of health care is a guessing game where no one wins. Even basics like getting to work and heating your home have become burdens. And Trump’s tariffs – hitting almost every product – are pushing prices higher. Colorado paychecks cannot keep up.

Business as usual is failing Coloradans. Michael Bennet is running for governor to take on the rising cost of living and make Colorado affordable again for working families.

That starts with:

Affordable Homes for Every Family: Colorado faces a housing crisis that threatens families, communities, our economy, and our way of life. Many of us worry that our kids may never be able to afford to live here. Addressing the housing crisis is Michael’s number one priority. Michael will build a Colorado where nobody has to spend more than 30% of their income on housing by surging housing, bringing starter homes back to Colorado, making sure housing programs work for the whole state, and eliminating unnecessary red tape, so we are building housing faster. Read Michael’s Comprehensive Plan on Housing Affordability HERE.

Budget-Friendly Home and Auto Insurance: Michael will implement a tax deduction for Coloradans to help afford home improvements that protect homes from damage from hail and wildfire. With car insurance rates soaring, Michael will take on auto insurance rates, including building on the state’s progress towards reducing auto theft.

Affordable High Quality Health Care Throughout the State: Health care costs are crushing families and consuming our state budget. Michael believes that health care is a human right, and access to care shouldn’t depend on your income or where you live. Michael will bring leaders from every corner of the state together to reimagine Colorado’s health care system, so that it actually works for the people who depend on it. He will:

• Enumerate for Colorado the Biggest Drivers of Health Care Cost. Every Coloradan has a story about a price tag for medical services that seems way out of line with the care delivered. Even Coloradans with insurance struggle with irrationally high medical bills for simple procedures. Michael believes Coloradans need a shared and transparent understanding of why health care costs what it costs. He will complete and publish a comprehensive evaluation of health care cost drivers in Colorado in his first 100 days in office.

• Cut the Costs of Prescription Drugs. Coloradans across the state struggle to afford prescription drugs. Pharmacy benefit managers (PBMs) serve as middlemen for prescription drug allocation and mark up costs to make a profit. Michael will champion state efforts to cut out increased costs and to negotiate directly with drug manufacturers for the best prices for Colorado.

• Support New Models to Deliver High Quality, Affordable Care. Under Michael’s leadership, Colorado will lead the country in creating innovative approaches to health and mental health care by providing flexibility and state support for: (1) community-driven models that deliver high-quality care to patients at a lower cost, (2) tools that enable Coloradans to track their health and take control of their well-being, and (3) innovative insurance options that lower costs for families and drive costs down in the marketplace, like state sponsored accounts that incentivize preventative care.

• Ensure Colorado Families Have Health and Mental Health Care Close to Home. Most of Colorado’s rural hospitals are in the red and some are in danger of closing. Families living in rural Colorado are at risk of losing access to care, and communities are at risk of losing critical economic drivers. Michael will be a strong partner to rural hospitals by supporting their efforts to sustain services long-term and serve the communities that depend on them. He will also launch a statewide initiative to make sure we have enough doctors, nurses, and health and mental health workers in the state.

Affordable Child Care for Working Families: Colorado’s child care is among the most expensive in the nation, ranking fifth overall for infant care. Families pay, on average, almost $20,000 a year for infant care. Michael will make child care more affordable and accessible by cutting costs for families, supporting new child care models, and investing in child care workers. Read Michael’s Comprehensive Plan on Child Care Affordability HERE.

More Choices for Low-Cost Transportation: Coloradans should be able to get to work, take their kids to school, and visit a doctor without breaking the bank. But today, transportation is the second largest expense for families, after housing. Expensive car insurance premiums, damaged roads, and a lack of affordable transit options are making daily life harder and more expensive. Colorado families deserve better, and Michael will:

• Fix the Roads. Colorado’s roads cost drivers $1,705 annually in wear and tear, more than double the national average. Michael will support innovative financing to reduce congestion bottlenecks, fix rural roads, fund maintenance, and increase safety and reliability. He will cut the time it takes for the state to approve and invest funds into road maintenance projects, especially those related to safety.

• Expand Affordable Transit Options. Michael will work with local and regional transit authorities to increase the availability and frequency of affordable transit options within Colorado’s cities and towns, including flexible alternatives that connect riders from home and work to transit hubs. He will expand bus rapid transit on major corridors and further connect statewide bus services, like Bustang,  to local and regional transit systems throughout the state. He will also continue to work with local communities to expand and modernize passenger rail service, like Mountain Rail and Front Range Rail, in Colorado.

• Build Homes Closer to Jobs and Transit. Michael will work with local governments to make it easier and cheaper to create more affordable housing options closer to where people work, so Coloradans can spend less time and money on transportation. 

 Affordable and Reliable Electricity. Rising energy costs are hitting Coloradans’ budgets harder than ever, and will only continue to grow. Since 2019, the average monthly bill for electricity has grown by 38%. Recent estimates project that residential utility rates could increase by at least that much again by 2030. Unlike places like California, Colorado’s energy prices need to be a competitive advantage for our state. Michael will work with utilities, energy companies, non-profits, local governments, and unions to bring down prices and make it easier for Coloradans to keep the lights on by:

• Strengthening Colorado’s Energy Independence to Bring Stability to Rates. Michael will start a Colorado Energy Innovation Program, a public-private partnership to research, develop, and scale promising, affordable clean energy sources and technology, like geothermal. He will also work with utilities and local communities to encourage investment in the development of large-scale clean energy solutions that bring affordable and reliable power, and he will support the build-out of a modern distribution and transmission infrastructure that increases efficiency and lowers costs. Michael will work with local governments to cut unnecessary red tape in permitting and expand energy infrastructure in ways that lower costs for consumers and benefit the communities where these projects are built.

• Ensuring Large Commercial Users Pay Their Fair Share. Large energy users, like data centers, could drive up energy costs for residents. Michael will support a pragmatic approach to commercial energy use in Colorado that still enables economic development. He will require new commercial users to pay for the infrastructure and energy generation they will consume and in a way that protects Colorado families from footing the bill. He will also ensure data centers are working with state and local governments on maximizing the best location and mitigating against building unnecessary transmission infrastructure.
• Create a Statewide Strategy for Energy Use That Reduces Costs. We can save money for Colorado families by committing to a statewide strategy that encourages a more balanced consumption and reduces peak demands. Michael will support residential and industrial energy storage solutions across the state. He will also incentivize businesses, data centers, and Colorado families to use energy during off-peak hours, and he will modernize our electrical grid so that we can take advantage of distributed energy, storage, and changes in customer demand.

• Help Families Keep Their Power On. Michael will implement a requirement mandating the state, utilities, and energy assistance organizations coordinate payment relief programs through increased funding and increased access to energy conservation programs to help families save money. He will also expand existing bill-assistance programs to help Coloradans stay connected at a rate they can afford.