The $40,000 cap would begin this year, with the same $500,000 income phaseout, and both figures would rise by 1% annually from 2026 through 2033.

Colorado’s Democratic leaders blasted congressional Republicans’ tax bill as a “complete betrayal” after the bill passed the U.S. Senate and hurtled toward its potential

Research by non-partisan think-tank CBO forecasts that the bill’s massive cuts to Medicaid could leave 11.8 million Americans without health insurance by 2034.