The Build Back Better Act being contemplated in Washington is bad for Colorado business and Coloradans. Here in Colorado, we have been building back better from the COVID-19 pandemic. Businesses and everyday Coloradans pulled together, had each other’s backs, and together we’re creating a stronger, new normal. But what is happening in Washington right now could make this recovery harder.
Job creators and workers in Colorado would face huge new tax hikes if the proposed Build Back Better Act is signed into law. Make no mistake, these tax hikes will directly impact us at every turn: higher operating costs for business; higher prices at the grocery store; higher prices at the gas pump; and so much more. In December 2021, the U.S. Bureau of Labor Statistics reported that the all items index rose 7% for the 12 months ending in December.
We don’t need Washington to make this worse.
We know inflation is having a negative impact on Coloradans’ personal finances. According to a new poll from the National Association of Wholesaler-Distributors, 65% of Colorado voters have already felt the impact from higher prices due to inflation. Sixty percent of voters agree that now is not the time for Congress to pass new spending bills like the Build Back Better Act, which would make inflation even worse.
I applaud actions taken by those in Congress to stop this bill from becoming law. I hope Colorado U.S. Sens. Michael Bennet and John Hickenlooper choose to oppose this and other legislation that can only add to the inflationary pressures affecting our economy. It is clear: most Coloradans agree — the Build Back Better Act is bad for business and for families.
President, CEO and chairman
Arrow Electronics, Inc.