WASHINGTON — Treasury Secretary Janet L. Yellen mentioned on Tuesday that the lack of entry to authorized abortions would harm the US financial system and deal a blow to the monetary well-being of girls.
“I imagine that eliminating the rights of girls to make selections about when and whether or not to have youngsters would have very damaging results on the financial system and would set ladies again a long time,” Ms. Yellen mentioned throughout a listening to earlier than the Senate Banking Committee.
A leaked draft determination indicated that the Supreme Court docket was poised to overturn Roe v. Wade, the landmark 1973 case that established a constitutional proper to abortion, elevating considerations that entry to abortions will probably be curtailed round a lot of the nation.
Ms. Yellen, who’s the primary feminine Treasury secretary, mentioned that such a transfer would characterize a significant financial setback for girls. She mentioned that legalization of abortion helped result in elevated labor pressure participation amongst ladies, permitting extra to complete faculty and enhance their incomes potential, and she or he pointed to financial analysis that helps that argument.
“It makes clear that denying ladies entry to abortion will increase their odds of dwelling in poverty or want for public help,” Ms. Yellen mentioned of the analysis.
Senator Tim Scott, Republican of South Carolina, known as Ms. Yellen’s argument “harsh” and “piercing,” suggesting that it was inappropriate to border the controversy over abortion in financial phrases. He mentioned that he was grateful to have been raised by a single mom who saved their household out of poverty.
In a tense trade, Ms. Yellen pushed again and made the case that it will be significant for girls to have the ability to have youngsters after they have the monetary sources to maintain them.
“This isn’t harsh, that is the reality,” Ms. Yellen mentioned.
