Republicans are not simply returning Medicaid to the level of increases before Obamcare (that would just be ending Medicaid expansion, which is part of the bill). The bill goes beyond that. The per capita cap structure proposed would amount to a 25-30% reduction in the funding available to the Medicaid program that existed prior to the ACA (i.e. coverage for children, seniors, and the disabled). Over time, this would mean that Colorado would either have to spend substantially more money to meet the needs of these populations, or cut/reduce services. The per capita cap structure in this bill is attached to the consumer price index, which does not accurately account for increasing medical costs, which is why this will amount to cuts in the long run. A per capita cap structure also doesn't allow Colorado to adjust to substantial shifts in demographics and health needs of the population.