Inflation Reduction Act: Impacts on Main Street

On President Biden’s signing of the Inflation Reduction Act, Main Street Alliance/Main Street Action Executive Director Chanda Causer had this to say:

“The landmark legislation signed by the President today is a step toward fairness in our tax code and health system, especially for Main Street business owners. Corporations have been allowed to skirt taxes for far too long, while small businesses invested in our public goods. May this turn the tide in our economy,  allowing us to see what is possible when we have resources available to invest in making people’s lives better.

“The improvements this law will make to our health care system will have an outsized positive impact within our small business communities. It will make health coverage possible for more small businesses and their employees while lowering the cost of prescription drugs. These are changes Main Street Alliance had been fighting for since our founding.

“While the Inflation Reduction Act is great news for Main Street, it does not go far enough. Many people – especially Black and Latina women, who are most severely impacted by child care shortages and often do not have paid leave – cannot start, grow, or work for small businesses because our nation has failed to invest in care infrastructure. MSA small businesses will continue building power within local communities to advance paid leave and child care investments at the local, state, and federal levels.”

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