ICYMI: 25 Small Business Owners From Across the Country Call on Congress to Support Inflation Reduction Act of 2022
Washington, D.C.– Small business owners across the country are coming out to support the Inflation Reduction Act of 2022. They are praising the bill for making the tax code fairer by ensuring that profitable corporations pay their fair share – like small businesses already do. And, they are highlighting that the bill lowers their costs by reducing health care and energy costs and tackling inflation by reducing the deficit.
Here's what small business leaders are saying about the Inflation Reduction Act of 2022:
"The Inflation Reduction Act addresses several key issues for small business owners and ensures large corporations and the wealthy pay their fair share. Many large corporations have been quick to use inflation as cover to raise prices while experiencing record profit margins, which places financial strain on Main Street businesses. And small businesses are disproportionately burdened by a tax code that favors the biggest corporations.The effective federal tax rate for small businesses is 19.8%, while many corporations pay little or even no tax. For our Main Street economy to grow, corporations must pay their fair share. This will help fund programs that empower small businesses to compete on prices and services."
Walt Rowen, Susquehanna Glass in Columbia PA
"As a small business owner in the Master Systems Integration Information Technology field, the Inflation Reduction Act of 2022 is enormously important in reducing the total cost of doing business. The areas of focus I like are the 15% corporate minimum tax, prescription drug pricing reform and IRS tax enforcement—all elements that help level the playing field. This is a great bipartisan win."
Joe Reddix, The Reddix Group, LLC, Hanover MD
"Our family-owned marketing firm with nine employees would love to see healthcare prices stabilized and prescription drugs costs lowered. The positive impact of this legislation would be priceless to our bottom line and increase the morale of our small team."
Shaundell Newsome, Sumnu Marketing, Las Vegas NV and chair of the Las Vegas Urban Chamber of Commerce
"My salon has seen energy costs double. The cost of supplies has increased by 20%. Although my prices have gone up, they haven't kept pace with my costs for goods and services. I'm glad to see Congress is doing something to address inflation and help with costs that impact small business's bottom lines."
Patty Young, Patty Young Hair, Springfield, OH
"Loopholes and tax breaks for large companies create a huge deficit in our country's budget which is being filled by small business and the middle class. We need changes that ensure large companies pay their fair share. The Inflation Reduction Act does just that. We need to see changes that will help level the playing field for small businesses."
Christine Chin Ryan, Synergy Consulting, Inc., Portland, OR
"Small business owners are the backbone of the economy, but skyrocketing drug costs are keeping us from making the investments we need for the future. It is time our leaders have our backs and act to rein in the cost of medication. I support allowing Medicare to negotiate directly with drug companies because I know the kind of difference it would make for my business and my employees. I urge Congress to pass the Inflation Reduction Act of 2022."
Candace Combs, In Symmetry Spa, San Francisco, CA
"Large corporate companies with big budgets and staff often have better resources and larger infrastructure to both spend more on benefits packages, but also to negotiate better prices from insurance companies. Small businesses are pillars in their communities and drivers of employment and economic growth, but we need Congress to get rising healthcare costs under control to level the playing field and build a thriving Main Street."
Tiara Flynn, Sumnu Marketing in Las Vegas, NV
"Many small businesses are still recovering from the economic impact of Covid-19 and continue to need support. One of the best ways to do that is to invest in programs that will help the bottom line of businesses and allow them to be more competitive in the labor market. I am glad to see the Inflation Reduction Act include lowering the cost of prescription drugs, which is a main driver of healthcare costs and continues to be the No. 1 policy issue for small businesses. I urge Congress to act on this crucial small business issue."
Dr. Erika Gonzalez, CEO, President, & Co-Founder of South Texas Allergy and Asthma Medical Professionals (STAAMP) and STAAMP Clinical Research, San Antonio, TX
"As small business owners, we are the heartbeat of America's economy. Through community networking, the hard work of our people and the Inflation Reduction Act of 2022, we will experience more security and sustained economic growth and achievements for our families."
Jerri Curry, Ph.D., Center for Mediation and Counseling in Benicia, California
"The implementation of drug pricing legislation would be huge in protecting our fellow citizens in the lower socio-economic scale from the out-of-control prices. It would lead to a significant amount of savings that would allow for these citizens to have a better quality of life. I urge Congress to pass this crucial legislation now."
Tim Sanders, Credit Repair of Florida in Sanford, FL
Joseph R. Biden, ICYMI: 25 Small Business Owners From Across the Country Call on Congress to Support Inflation Reduction Act of 2022 Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/357144