Statement in Celebration of Hispanic Heritage Month From Building Back Together

FOR IMMEDIATE RELEASE: September 15, 2023
PRESS CONTACT: McKenzie Wilson, [email protected]


WASHINGTON, D.C. — In recognition of Hispanic Heritage Month, Building Back Together Interim Executive Director Mayra Macías released the following statement:

“This Hispanic Heritage Month, we celebrate the contributions and achievements of Latinos across our country. From those who recently arrived after traveling thousands of miles to create opportunities for themselves and their families, to those who have been part of the fabric of our country for over two centuries, we honor the rich culture and stories of all Latinos. This month is an opportunity for us to shine a light on how diversity strengthens our nation, while also recognizing the steps we still need to take to expand opportunity and ensure equity for all.

“At Building Back Together, we have prioritized engaging with the Latino community from day one to tell the story of how the Biden-Harris Administration is delivering for Latino families. Whether it is by boosting economic growth, lowering costs such as that of prescription drugs, creating millions of good-paying union jobs, or achieving the lowest Latino unemployment rate on record, President Biden is providing Latinos the tools for economic mobility.

“The Biden-Harris Administration continues to push for reforms for our broken immigration system, make education more affordable and accessible to Latino and immigrant families, and give millions of people breathing room in their budgets to start a family, build a business, or buy a house. During Hispanic Heritage Month, we strive to realize the promise of America for all who reside here and will continue to uplift the many ways Latinos are already benefiting from the Biden-Harris policy agenda.”

The Biden-Harris Administration is delivering for Latino families by lowering costs, creating jobs, and investing in greater opportunities:

  • The historic jobs recovery under the Biden-Harris Administration has dramatically reduced unemployment rates for Latinos:
    • The unemployment rate for Latinos has fallen from 8.6 percent in January 2021 to 4.3 percent in June 2023.
  • Under President Biden, minority-owned small businesses are receiving unprecedented financial support:
    • 10.5 million new businesses have been filed since the Biden-Harris Administration took office, making 2021 and 2022 the strongest two years ever for new business applications.
    • Latino-owned businesses are among the fastest-growing businesses in the country. The average growth rate for Latino-owned businesses was 25% from 2019 to 2022 compared to 9% for white-owned businesses.
  • President Biden is delivering on his promise to build an economy that works for Latino families by lowering prescription drug costs:
    • The Inflation Reduction Act President Biden signed into law caps out-of-pocket prescription drug costs at $2,000 for Medicare beneficiaries, including more than 5 million Latinos.
    • The Inflation Reduction Act also caps the out-of-pocket monthly cost of insulin at $35 for Medicare beneficiaries.
      • Nearly half of Latino Medicare beneficiaries reported having diabetes.
    • The president’s legislation also lowers prescription drug costs by allowing Medicare to negotiate the price of high-cost drugs and requiring drug companies to pay rebates when they raise prices faster than inflation, which will impact the more than 5 million Latinos on Medicare.
  • Since taking office, President Biden has made it a priority to support Puerto Rico:
    • Through the Bipartisan Infrastructure Law signed by President Biden, his administration has already provided $1.1 billion for infrastructure projects in Puerto Rico, including:
      • $590 million for transportation, including roads, bridges, public transit, ports, and airports, and $185 million for clean water.
    • The American Rescue Plan President Biden signed into law permanently expanded access to the Child Tax Credit to all Puerto Rican families.