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Janel Knight Trulear
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(617) 875-6581

Small Business Group: Inflation Reduction Act Will Help Ease Economic Pressures on America’s Small Businesses

Statement by Small Business for America’s Future Co-Chair Dr. Erika Gonzalez, a San Antonio Hispanic Chamber of Commerce board member, on action to lower prescription drug prices

Washington, D.C., Jan. 11, 2023—Lawmakers have tried for decades to pass legislation allowing Medicare to negotiate the cost of prescription drugs in order to drive down healthcare costs for millions of Americans and help small businesses that struggle with soaring health insurance costs. Today, we are finally seeing progress on this vexing issue thanks to the implementation of the Inflation Reduction Act.



The Department of Health and Human Services announced it will begin identifying the first ten prescription drugs subject to price negotiations, and will start working with prescription drug companies to get better drug prices for Medicare beneficiaries. 

In more good news for healthcare prices, the agency also said that a record 16 million people have signed up for healthcare coverage on the Affordable Care Act Marketplace as the end of open enrollment nears—a 13% increase over last year. This boost in enrollment shows the importance of the enhanced financial assistance extended in the IRA, as well as the fix to the so-called “family glitch,” which allows more family members of employees to get help paying for health plans on the Marketplace. Finally, seniors on Medicare are seeing their insulin costs capped at $35 for a month’s supply this month. 

These measures see overwhelming support from small business owners—87% support Congress giving Medicare the ability to negotiate drug prices for instance—because the ever-increasing cost of healthcare has forced small businesses to raise the prices of their goods and services or consider dropping healthcare coverage altogether.

The Inflation Reduction Act is delivering real results for small business owners and families and is a prime example of what can be accomplished when lawmakers put aside the politics of division to work together to address the needs of the American public. 

To request an interview with Small Business for America’s Co-Chair Dr. Erika Gonzalez, contact Janel Knight Trulear at (617) 875-6581 or janel@emccomunications.com.  

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About Small Business for America’s Future
Small Business for America’s Future is a national coalition of small business owners and leaders working to provide small businesses a voice at every level of government. We’re committed to ensuring policymakers prioritize the nation’s 30 million small businesses to create an economy that works for them, their workers and their communities. Visit www.smallbusinessforamericasfuture.org. Follow us on Twitter and Facebook. #SmallBizAF.