FOR IMMEDIATE RELEASE

Media Contact:
Janel Knight Trulear
janel@emccommunications.com
(617) 875-6581

Small business group supports efforts to lower healthcare costs, a step toward providing much needed relief to Main Street entrepreneurs

Statement by Small Business for America’s Future senior advisor Rhett Buttle on President Biden’s healthcare event today. 

WASHINGTON, D.C. April 3, 2024—“We welcome today’s event where the Biden Administration is focused on lower healthcare costs. The soaring cost of healthcare bites deeply into the small business bottom line, if entrepreneurs are able to afford it at all, hampering their ability to grow and attract and retain workers. In fact, the cost of healthcare is consistently ranked as the top issue facing small business owners.

“Today’s event comes amidst a historic small business boom with 16 million new small businesses created in the last three years, and we need policies that support their success. A growing number of them are owned by people of color, with the number of Black entrepreneurs doubling and Latino business ownership up by 40% since 2019. These are the same populations who historically face disproportionate challenges in obtaining health benefits. 

“We appreciate the administration's action on the cost of inhalers which has led to companies announcing caps on out-of-pocket expenses at $35 per month which will go into effect soon. Some inhalers can cost $200-$600 in the U.S. compared to $49 in the United Kingdom.   It's an example of how exorbitant prescription drug prices can be impacting the professional and personal budgets of small business owners and their employees. 

“Other efforts including the Inflation Reduction Act lowers costs for life-saving medications for people who receive health coverage through Medicare. It is popular among small business owners, with 81% of small business owners supporting the Inflation Reduction Act’s measures to lower prescription drug prices. 

“We are happy that lowering healthcare costs is a priority and not an afterthought.” 

Small Business for America’s Future Senior Advisor Rhett Buttle is available for interviews upon request, contact Janel Knight Trulear at janel@emccommunications.com or 617-875-6581. 

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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.