Maloney Statement on Equal Pay Day
"As we argue the merits of various budget proposals, we must not forget that the wallets and savings accounts of our mothers, sisters, and daughters are not as heavy as they should be. Today, on Equal Pay Day, we recognize the discrimination women continue to experience each time they receive a paycheck. "Women earn roughly 77 cents to every dollar a man earns. This translates to almost an $11,000 reduction in annual female median earnings. Over her lifetime, a woman will see a reduction in her savings for retirement, including Social Security and pension plans, and in her ability to save for lifetime goals such as buying a home and paying for a college education.
"In the 111th Congress, I was the first female Chair of the Joint Economic Committee, and as such I made a commitment to look at women’s current role in the economy through numerous reports and hearings. As a capstone, in December 2010, the Committee issued a comprehensive report compiling research done by the Committee, testimony from several hearings, and GAO reports assessing the detrimental gender wage gap for part-time workers and older Americans as well as wider discussions of women’s continued under-representation in management level positions and the positive impact of health care reform and financial reform on women and their families. As I said in that report, “The decisions we make today will have dramatic impacts on our nation’s future economic well-being, and we must carefully consider what those decisions will mean for women, both as consumers and as producers.”
"Regardless of demographics, industries, occupations or education, gender wage discrimination touches nearly every family. When you discriminate against a woman, you discriminate against her husband, her children, her entire family. In these economically difficult times, more than ever women find themselves to be the sole or primary household breadwinner, which means the wage gap undermines the economic security of our nation’s families.
"The persistence and stagnation of the gender wage gap is inexcusable. That is why I am proud to support the Paycheck Fairness Act, a bill that provides women with the tools to fight wage discrimination and improve the economic security of working families. I urge my colleagues to stand up for the basic rights and fairness of 51% of the U.S. population."