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https://www.businessinsider.com/overturn-roe-wade-economic-economy-implications-banning-abortions-severe-2022-5
Treasury Secretary Janet Yellen said restricting abortion rights could hurt the US economy.
Women denied abortions are more likely to struggle paying bills and exit the workforce, research shows.
Overturning Roe v. Wade would also increase inequality, experts said.
The battle over Roe v. Wade has been framed as a human-rights issue: one about morals, ethics, and religion. That's all true, but abortion is an economic matter, too, as shown by comments from Treasury Secretary Janet Yellen at a Senate banking committee hearing on Tuesday.
Yellen underscored the negative economic impacts of limiting abortion rights in the US, saying it would set women's progress back in the economy. She was likely referring to women's labor force participation rate, wages, and levels of poverty.
"I believe that eliminating the rights of women to make decisions about when and whether to have children would have very damaging effects on the economy and would set women back decades," Secretary Yellen told lawmakers yesterday.
"One aspect of a satisfying life is being able to feel that you have the financial resources to raise a child," Yellen responded. "This is not harsh. This is the truth," she later added.
On May 2, Politico published a leaked draft opinion from the Supreme Court overturning Roe. The opinion rejects the federal right to abortion and paves the way for upholding restrictive anti-abortion laws in 13 states.
Treasury Secretary Janet Yellen said restricting abortion rights could hurt the US economy.
Women denied abortions are more likely to struggle paying bills and exit the workforce, research shows.
Overturning Roe v. Wade would also increase inequality, experts said.
The battle over Roe v. Wade has been framed as a human-rights issue: one about morals, ethics, and religion. That's all true, but abortion is an economic matter, too, as shown by comments from Treasury Secretary Janet Yellen at a Senate banking committee hearing on Tuesday.
Yellen underscored the negative economic impacts of limiting abortion rights in the US, saying it would set women's progress back in the economy. She was likely referring to women's labor force participation rate, wages, and levels of poverty.
"I believe that eliminating the rights of women to make decisions about when and whether to have children would have very damaging effects on the economy and would set women back decades," Secretary Yellen told lawmakers yesterday.
"One aspect of a satisfying life is being able to feel that you have the financial resources to raise a child," Yellen responded. "This is not harsh. This is the truth," she later added.
On May 2, Politico published a leaked draft opinion from the Supreme Court overturning Roe. The opinion rejects the federal right to abortion and paves the way for upholding restrictive anti-abortion laws in 13 states.
