Washington – New restrictions on abortion access are hurting the economy, Treasury Secretary Janet Yellen warned Tuesday.
“Eliminating women’s rights to make decisions about when and if they have children will have a devastating impact on the economy and push women back for decades,” Yellen told Senate Banking Committee.
A leaked Supreme Court decision last week revealed that judges were ready to overturn Rowe Wade, the historic precedent in 1973 that legalized abortion nationwide. The court confirmed the authenticity of the opinion but said it was not definitive.
Yellen’s testimony recalled that a coup would have huge consequences for people’s lives – and therefore for the U.S. economy.
“Against Rowe Wade And access to reproductive health care, including abortion, has helped increase worker participation and allowed more women to graduate. This fact must be taken into account ”. “It allows women to plan and balance their families and careers.” And studies also show that it has a positive impact on the well-being and income of children. “
“One aspect of a satisfying life is the feeling that you have the financial resources to raise a child, that the children you bring into the world are desirable and that you have the ability to take care of them.”
– Treasury Secretary Janet Yellen
If the court finally abandons its abortion record, it could ruin the midterm election, in which Republicans have strong supporters to win.
In the event of a definite conclusion, the opinion of the court itself does not prohibit abortion, but will allow states to do so. Twenty -six Republican -led states are confident or likely to ban abortion if the court overturns Ross, according to the Gutmacher Institute, including 13 states with “provocative” laws designed to take effect once it is passed by short. Abortion will remain legal in other states.
“The economic impact of abortion or not has been the subject of many studies in recent years,” Yellen said. “It clarifies that denying women access to abortion increases their chances of living in poverty or needing state assistance.”
A 2021 survey by the Women’s Policy Research Institute For example, abortion restrictions were found to reduce the economy by $ 105 billion annually by “reducing women’s participation and income in the workforce and increasing turnover and layoffs among women between 15 and 44 “. Total domestic product exceeds $ 24 trillion.
Joining the workforce means working or finding a job. The participation gap between women and men It dramatically decreased in the 20th century, but women’s performance slowed in the 1990s. Participation rates for mothers of young children are lower than overall rates for workers aged 25 to 54.
Senator Tim Scott (RSC) said he found Yellen’s comments disturbing.
“I think people might disagree on whether it’s pro-life or pro-abortion, but ultimately, I think putting it in the context of workers’ participation, I think it’s indifferent, “said Scott.
Yellen replied that it would not be cruel, but that reduced participation among workers was a contagious effect of not allowing women to control their bodies.
“What we’re talking about is whether women have the ability to regulate their reproductive status in a way that allows them to plan a life that is enjoyable and satisfying for them,” she said. “And one aspect of a satisfying life is the feeling that you have the financial resources to raise a child, that the children you bring into the world are desirable and that you have the ability to take care of them.”
Source: Huffpost
