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Treasury Secretary Yellen Says Reversing Roe Would Be “Very Damaging” to U.S. Economy

HeadlineMay 11, 2022

Lawmakers in California and New York are seeking to expand abortion access in response to last week’s leak of a Supreme Court draft opinion showing the court is poised to overturn Roe v. Wade. In California, lawmakers have proposed over a dozen bills as the state prepares to receive a growing number of people from out of state in need of abortions if Roe is struck down. Meanwhile, in New York, new legislation would help people pay for abortions, giving taxpayers an option to contribute to abortion funds.

On Capitol Hill, Treasury Secretary Janet Yellen told the Senate Banking Committee Tuesday that the elimination of reproductive rights would have very damaging effects on the U.S. economy and would set women back decades.

Treasury Secretary Janet Yellen: “Roe v. Wade and access to reproductive healthcare, including abortion, helped lead to increased labor force participation. It enabled many women to finish school. That increased their earning potential. It allowed women to plan and balance their families and careers. And research also shows that it had a favorable impact on the well-being and earnings of children.”

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