[Congressional Record (Bound Edition), Volume 161 (2015), Part 4]
[Extensions of Remarks]
[Page 4985]
[From the U.S. Government Publishing Office, www.gpo.gov]




                             EQUAL PAY DAY

                                 ______
                                 

                        HON. CAROLYN B. MALONEY

                              of new york

                    in the house of representatives

                        Tuesday, April 14, 2015

  Mrs. CAROLYN B. MALONEY of New York. Mr. Speaker, today, roughly 
three months into the New Year, we commemorate Equal Pay Day--the 
typical time into the year where a woman's wage catches up to what men 
were paid the previous year. This day symbolizes the blatant and 
persistent wage gap between men and women. Even in 2015, women earn 
only 78 cents to every dollar made by a man. It's time to make equal 
pay not just a nice slogan but a reality for women and families.
  Unequal pay is not just a women's issue--it's a family issue. Our 
country is evolving and more than ever before families rely on income 
from two parents. In fact, two out of three families now depend on the 
wages of working moms. Additionally, women are the primary breadwinners 
in 40 percent of U.S. households. It is a very real consequence that 
when women are discriminated against in the workplace the entire family 
struggles. This serves as an urgent reminder why we need to work 
together to ensure equal pay for equal work.
  Women have made remarkable strides in workforce participation and 
higher education. Today women make up nearly half of all workers as 
compared to 37 percent in 1970 and receive nearly 60 percent of all 
bachelor degrees granted in the U.S. Yet, regardless of the level of 
academic achievement, women's median earnings are still less than men's 
earnings. Sadly, a recent study by the American Association of 
University Women found that regardless of a woman's college major, 
occupation, age, geographic region, hours worked and more there is 
still an unexplainable seven percent wage gap a year after college 
graduation.
  The gap in wages only grows from there, leaving a disproportionate 
impact on women and their families throughout the rest of their lives. 
The Joint Economic Committee found that lower earnings ``can result in 
smaller private savings to draw upon in retirement, smaller 
contributions to employer-sponsored retirement plans, smaller Social 
Security benefits, and smaller paychecks for those women who continue 
to work later in life.'' The disparity is even more devastating when 
calculated over a course of a women's career. By the time a woman 
retires it's estimated that she's lost over $430,000 to the pay gap.
  It is important to recognize that women make tremendous contributions 
to our nation's economy with potential to make even more. It's 
estimated that greater pay equity between men and women would produce 
nearly half a trillion dollars of additional income, stimulating our 
economy by close to three percent of 2012 Gross Domestic Product. Also, 
by closing the wage gap between men and women we could cut the poverty 
rate in half, raising an entire nation to a better standard of living.
  Paying women their equal share has many implications. It means that 
we are a nation that stands for equality. That we are choosing to 
uplift women and families, reduce poverty and boost our economy. That 
is why I support the Paycheck Fairness Act, which strengthens the Equal 
Pay Act by closing loopholes and providing effective remedies to women 
who are not being paid equal wages for doing equal work. I urge my 
colleagues to pass this important legislation that confronts 
discrimination in the workplace. It is time for us to prioritize the 
long-term well-being of our nation's hardworking women and families.

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