FOR IMMEDIATE RELEASE

Contact

Conan Knoll
conan@emccommunications.com, (831)524-6764

Jared Thompson
jared@smallbusinessforamericasfuture.org, (260) 797-2530

Small business group: Passing the Build Back Better Act will lower prescription drug costs and help small businesses thrive

Statement by Small Business for America’s Future Co-Chair Dr. Erika Gonzalez, CEO & President of South Texas Allergy and Asthma Medical Professionals (STAAMP) and STAAMP Clinical Research, and Chair of the San Antonio Hispanic Chamber of Commerce, on the president’s remarks about lowering prescription drug prices

Washington, D.C., Dec. 6, 2021—Today’s remarks by President Biden on how the Build Back Better Act will lower the cost of prescription drugs are welcome news for small business owners, who have long struggled with the high cost of healthcare. Small business owners want policymakers to act to bring down the high healthcare costs that have long plagued Main Street  and we urge the Senate to swiftly pass the Build Back Act and deliver it.

Small Business for America’s Future’s national survey of more than 1,000 small business owners released in November found that 73% of small businesses think lowering healthcare and prescription drug costs is important to their business, and 83% said Congressional action on prescription drug costs will be important to their Congressional election votes in 2022, including 58% who listed it as very important. 

The Build Back Better Act includes provisions to combat rising prescription drug costs, such as allowing Medicare to negotiate directly with drug companies, and capping out-of-pocket drug costs for seniors in Medicare. The Congressional Budget Office (CBO) estimates that price negotiation alone will save hundreds of billions in healthcare costs and reduce premiums for employment-based insurance. This comes at a time when small business owners want to see clear steps from Washington to address the problem—far more small business owners (45%) are worried that the Biden Administration and Congress will not go far enough to lower the cost of prescription drugs than are worried that they will go too far (25%), according to the survey.

Small business owners are the backbone of the nation's economy—driving economic growth and job creation—and lowering prescription drug costs will allow small business owners to stay competitive with larger corporations and keep hard-earned profits that allow them to grow. We applaud the administration’s commitment to tackling rising prescription drug costs, and encourage Congress to pass the Build Back Better Act.

To request an interview with Erika Gonzalez, contact Jared Thompson at (260) 797-2530 or jared@smallbusinessforamericasfuture.org

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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.