What They’re Saying: Business Leaders And Main Street Business Owners Support Inflation Reduction Act

WASHINGTON, D.C.–This week, as the Senate moves to consider the Inflation Reduction Act, business leaders and organizations, as well as small businesses across America, are voicing support for the historic legislation.

Retail Industry Leaders Association (featured in The Hill)

“The agreement struck accomplishes all the objectives retailers have set out to achieve throughout the debate on corporate taxes: permanent lower rates, fairness to ensure all are contributing, and better enforcement to collect what is legally owed,” said Michael Hanson, Senior Executive Vice President for Public Affairs at the Retail Industry Leaders Association.

Business Council for Sustainable Energy

“Congress heard the urgent call to seize this opportunity to make a historic investment in America’s energy future, while taking important measures to help consumers lower energy costs, reduce inflation and enhance U.S. competitiveness,” said BCSE president Lisa Jacobson.

Clean Energy Business Network

"The Inflation Reduction Act of 2022 will accelerate clean energy deployment and offer long-term policy certainty in the tax code for businesses,” said CEBN president Lynn Abramson. "We stand firmly in support of ensuring that this legislation reaches the President’s desk and is signed into law as soon as possible. Communities across the U.S. all stand to benefit through lower energy costs, reduced climate impacts, more clean energy jobs, and bolstered energy security for our nation.”

Small Business Majority

“The newly reached Senate deal outlined in the ‘Inflation Reduction Act of 2022’ is critically important and welcomed by small businesses. The legislation extends the Affordable Care Act’s premium subsidies through 2025 and lowers prescription drug prices. More than half of all healthcare marketplace participants are small business owners, employees or self-employed entrepreneurs,” said John Arensmeyer, Founder & CEO of Small Business Majority. 

Main Street Alliance

“Holding corporations accountable for their fair share of taxes, while investing in cost-savings on health care for small businesses is exactly the kind of progress small businesses need to survive,” said Main Street Alliance/Main Street Action Executive Director Chanda Causer.

United States Hispanic Chamber of Commerce

“The introduction of the Inflation Reduction Act, a historical agreement reached by Leader Schumer and Senator Manchin, is an important step in starting the conversation around identifying ways to decrease healthcare costs, invest in domestic energy production, and make meaningful steps to decrease the deficit,” said USHCC President and CEO Ramiro A. Cavazos. “We are encouraged to see these conversations move forward and look forward to working with Congress and the Administration to push action on these important issues facing the Hispanic business community."
 



National Asian/Pacific Islander American Chamber of Commerce and Entrepreneurship(National ACE)

"We believe this legislation has the potential to elevate important conversations about alleviating the burdensome costs of healthcare services, provide crucial investment in domestic energy production, and move us in the right direction to decreasing the deficit. We will continue to closely watch the Senate deliberations in the coming days, as well as the House debate on this important legislation, one which we know will have an immediate impact on the pocketbooks of AAPI businesses.”
 

National Electrical Manufacturers Association (NEMA)

 “Today the National Electrical Manufacturers Association (NEMA) issued a letter to Democratic leaders in the Senate and House thanking them for their efforts on the Inflation Reduction Act of 2022 and called on them to immediately pass this important bill to advance America’s leadership in the energy transition, foster domestic manufacturing, and provide much-needed certainty for the domestic clean energy industry," said Debra Philips, NEMA President and CEO. "NEMA believes that this legislation is a crucial step towards reaching U.S. climate and electrification goals. The bill includes a groundbreaking slate of climate and clean energy investments including tax credits for domestic renewables manufacturing, support for electric vehicles and incentives to help utilities and consumers transition to cleaner energy. We call on Congress to work quickly to pass this legislation into law. Our members are poised to invest billions in domestic manufacturing capabilities to facilitate the energy transition, and this legislation will make those investments a lasting reality.”
 

Business Forward

"The Inflation Reduction Act (IRA) is a hard-earned and well-crafted package that will fight inflation, lower health care costs, improve our energy security, and tackle the climate crisis, all while reducing the budget deficit by $300 billion. The IRA includes $370 billion to promote domestic energy production and deployment of clean technologies," said Liz Fairchild, Executive Director, Business Forward. "If passed into law, the bill will bring good jobs and investments to communities which have long been locked out of our energy economy. It will help us catch up to our global competitors and drive economic opportunities for small businesses in America’s power sector for years to come. To fund investments, the IRA raises $470 billion by closing tax loopholes for America’s wealthiest households and corporations. It raises another $320 billion by allowing Medicare to negotiate lower costs for prescription drugs. The agreement also makes health insurance cheaper for millions, which helps small business owners afford coverage for both their employees and themselves. I encourage Congress to strengthen our small business economy by bringing the IRA to the floor as soon as possible” 

Outdoor Recreation Roundtable

 “There is so much good for outdoor recreation and the $689 billion outdoor recreation economy in the Inflation Reduction Act, including funding for hazardous fuels reduction so our forests stay healthy and accessible; more investment in public lands conservation and restoration; funding for our cities’ green spaces through urban tree reforestation; and support for disadvantaged communities to address the impacts of climate change,” said Jessica Turner, president of Outdoor Recreation Roundtable (ORR). “The Inflation Reduction Act is precisely the type of forward looking, problem solving, and community building legislation that will bolster recreation economies.’’
 

Association for Enterprise Opportunity

“AEO is proud to support the Inflation Reduction Act of 2022. We have remained firm in our position that Congress must act swiftly to encourage climate-friendly policies, increase economic opportunities for underserved communities, and target investments into low-and moderate-income communities such as increasing access to affordable healthcare," said Connie E. Evans, President, and CEO of the Association for Enterprise Opportunity. "As a thought leader in innovation in microbusiness, we are pleased to see the inclusion of the refundable Research and Development Tax Credit program in the package, which will generate opportunities for innovation in the microbusiness economy. While we will continue to call upon Congress to implement policies that support microbusinesses in LMI communities, we believe this legislation represents a strong step towards economic resiliency in a post-pandemic economy.”
 

U.S. Black Chambers Inc.

 “The U.S. Black Chambers, Inc. stands in support of the Inflation Reduction Act of 2022, marking an achievement for the Biden-Harris administration on their promise to deliver on the Build Back Better agenda. Of notable impact to the Black business community, the legislation works to lower energy costs and reduce carbon emissions as Black communities are negatively impacted by environmental injustices at disproportionate rates," said Ron Busby Sr., President, and CEO of the U.S. Black Chambers Inc. "The legislation will also target lowering healthcare costs and increasing healthcare access; we know that a strong Black economy requires a healthy Black community with equitable access to healthcare. USBC underscores the need for a holistic approach toward fostering a robust business ecosystem, and we recognize the provisions in this package make headway in that regard. While we understand there is more work to be done, we look forward to ensuring that this legislation is sculpted with intentionality so that we can continue to uplift Black businesses throughout the country.”
 

Association of Women’s Business Centers

“The Association of Women’s Business Centers applauds the efforts towards the Inflation Reduction Act of 2022. We are especially supportive of the inclusion of doubling the small business R&D tax credit, which will help women-owned small businesses, and all qualified small businesses, as they navigate financial hardships from the pandemic, workforce shortages, and inflation," said Corinne Goble Hodges, CEO of the Association of Women’s Business Centers. Inclusion of this provision will enable more women entrepreneurs and new businesses to utilize the additional dollars of the tax to offset the FICA employer portion of payroll tax, thus enabling them to focus additional resources on business resiliency and growth. 

Public Private Strategies

“The American business community – from Fortune 500 companies to small businesses across the country – strongly support the Inflation Reduction Act and its numerous provisions to ensure health care and prescription drug costs are affordable for millions of Americans, spur economic growth, reduce inflationary pressure in the energy market while tackling climate change, and level the playing field for small businesses and their employees,” said Rhett Buttle, Founder and Principal, Public Private Strategies

Small Business for America’s Future 

“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,” said Walt Rowen, Susquehanna Glass in Columbia PA, Co-Chair, Small Business for America’s Future 

"We believe this transformative legislation will catalyze the private investment required for the United States to transition to the economy of the future, ensuring growth that works for all Americans and achieving 2030 emissions reduction goals."

- Laxmi Wordham, Member, Leadership Now Project
- John Pleasants, Member, Leadership Now Project
- Shruti Mehrotra, Member, Leadership Now Project
- Chris Medina, Fellow, Leadership Now Project
 

Small Business for America’s Future compiled testimony from small business owners across the country who support the Inflation Reduction Act:

“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.”
- Joe Reddix, The Reddix Group, LLC, Hanover MD 

“Our growing communications firm employs 10 talented West Virginians and serves nonprofit clients in Appalachia and beyond. Because we are committed to attracting and retaining a talented workforce, we offer comprehensive health insurance. But the cost of healthcare is skyrocketing and is in turn limiting our growth as a company. It’s true that small businesses are the backbone of America’s economy, but we shouldn’t bend over backwards to just stay in business.”
- Carling McManus, CEO 84 Agency, Charleston, WV 

“The revenue raised to finance [these investments] would come exclusively from wealthy individuals and corporations."
- Anne Zimmerman, Zimmerman & Co CPAs Inc, Cincinnati, OH 

“There is a lot for rural small business owners to like in the Inflation Reduction Act, from tackling the high cost of prescription drugs to ensuring corporations can't work loopholes to pay little or no taxes. This bill also supports rural communities by investing in farmers to become part of climate change solutions, ensuring that rural communities are able to better-adapt to a rapidly changing climate. These components show how important this legislation is to all of us.”
- Frank and Kimberlee Spillers, Rural Community Solutions, Atlantic, IA

“My faith in government continues to be restored. Several months ago, I along with a collective of diverse business owners met with members of Congress and the administration to share the challenges of prescription drug prices and coverage and the need for green investment. Our voices matter and we can affect change. This legislation reflects that."
- Dan Guerra, AltusCampus, Madison, WI

“Our small business, like thousands of others, is a job creator. We bear all the risks so our economy’s engine can power through tough times. The rising costs associated with health insurance and the limitations placed on financial savings are choking us. Pass the Inflation Reduction Act and give small businesses the support we need."
- Sissy Blanchard, Saltwater Porch and Patio, St. Simons Island, GA 

“Taking care of our employees is always Job One for us. Exploding healthcare costs and now rising inflation threatens our restaurant’s ability to remain open much less take care of our 40+ employees. I urge Congress to pass this legislation to bring down healthcare costs and reign in inflation. This will allow the B&L to continue to serve our community, ensure our employees have a future and prepare us for a successful future as we enter our third decade in business. Small business is the backbone of our region, and America.”
- Patrick Mulvay, B&L Restaurant in Sacramento, CA 

“People implying that the tax will show up on tax forms for middle-class families are clearly wrong. It won’t.”
- 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 

"As a non-medical home care business I see everyday how high drug costs hurt our communities, especially minority communities. If people cannot afford healthcare because of high drug prices then our healthcare system is not working. As a small business owner I believe we need healthy communities. Without healthy communities we cannot have a healthy workforce. Congress must pass drug pricing legislation so that all Americans can have the healthcare they deserve."
- Sylvia Nyarko, Love & Compassion Senior Care Services in Tucson, AZ

“My digital agency has seen health insurance costs rise dramatically and the level of care recede. I have a very sick employee, who needs care, and insurance refuses to approve proper treatment. She is only working 10 hours a week due to her debilitating condition. I beg our leaders to get this legislation across the finish line.”
- Nat Rosasco, Olive Street Design Villa Park, IL 

"As a clean energy business, planning to employ seven people. I am encouraged by the Inflation Reduction Act of 2022 and its efforts to create a 21st century clean energy economy that will help my business compete in the market and for top talent. I urge our leaders to pass this legislation that will help our economy better support Main Street entrepreneurs and thrive.”
- Jalaal Hayes, Elyte, Dover DE 

“Unless Congress passes the Inflation Reduction Act of 2022, small business owners across my state and the nation will lose the federal premium assistance that has enabled them to have quality, individual health insurance through the Affordable Care Act, just like their employees. These entrepreneurs will be forced to either be without health insurance or get cheap, little-benefits plans on the open market."
- Frank Knapp, Carolina Pet Resort and President & CEO, South Carolina Small Business Chamber of Commerce, Columbia, SC 

"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 

"I am pleased to see forward progress finally being made on legislation that will directly improve my company's ability to do business. As an owner of an organization in the commercial aviation industry, we provide services that only a few are qualified to perform and our employees are critical to our success. The rising cost of prescription drugs and healthcare in general impact our ability to attract and retain talent. Also, leveling the playing field by making big businesses pay their share of taxes will only improve our ability to win future projects. I implore congress to pass this legislation and make history by introducing the most aggressive climate change bill ever."
- Todd Hamlin, Global Aerospace Design Corp, Cincinnati, OH 

“As a larger small business employing over 100 people, we are fortunate that we can offer our employees quality insurance for decent premiums. However, the skyrocketing cost of prescription drugs is a huge issue for our business. The rising costs of drug pricing has caused the cost of our plans to increase substantially on a regular basis. These costs impact our ability to provide benefits to our employees, which are essential to retaining top talent. I urge Congress to take action to lower drug pricing by passing the Inflation Reduction Act of 2022.”
- Marcella Medor, MarCom, LLC, Idaho Falls, ID 

“It is as hard as it ever has been to compete for workers as a small business owner. Additional investment to bring costs down will help businesses like mine offer better wages, invest in our business’s growth, hire more people, and offer them the benefits they need to feel safe and ready for work.”
- Mas Torito, Kokoro Restaurant, Denver, CO 

"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 

“My Wellness Tourism business has been restricted in growth due to the high cost of running a small business. The Inflation Reduction Act of 2022 could help reduce costs for myself and my small business so I can create more jobs in my community."
- Jenay Aiksnoras, Bliss Experiences and Lake Tahoe Yoga, Zephyr Cove, NV

“I have a small business with six employees who work as independent contractors therefore everyone is responsible for their own healthcare insurance. If the economy gets better and I’m able to bring on more employees, I could offer healthcare benefits to all. As a small business owner during this time of inflation, it has really been difficult for me and I would like to see more changes to help support small businesses succeed. This legislation opens more doors for small businesses and ensures large businesses open their pockets and pay more taxes."
- Tomeka Lesane, Level Up Hair Salon LLC in Charlotte, NC 

“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 

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