Big changes could be coming for women in the workforce under a Biden presidency
While this does not influence our opinions on the products, we do receive compensation from partners whose offers appear here. We are by your side, always. See our full advertiser disclosure here.
For years, women have struggled to earn a salary comparable to that of their male counterparts. As such, women hold only 32% of the wealth that men have accumulated, and for women of color, that percentage is much lower.
President-elect Joe Biden has a plan to promote gender equality in the workforce, and if his ideas come to fruition, women may soon be in a much stronger position to start saving more money and benefiting of the same financial security as the men they work with. . Here are some of the changes Biden intends to make during his presidency.
1. Eliminate the pay gap
Women are said to only earn $ 0.82 for every dollar men earn, and among women of color that percentage is declining. Biden plans to force companies to disclose salary information so that gender pay gaps can be more easily brought to light. He also wants to ban the practice of asking questions about salary history to level the playing field. Since women have historically earned less than men, they enter salary negotiations at a huge disadvantage, so it is important to end this practice. Biden also plans to pass legislation that will make it easier for women workers to organize unions and bargain collectively with employers.
2. Protect women from harassment
Although tens of millions of workers experience sexual harassment on the job, women of color are the most likely to experience it. Biden intends to pass the End Harassment by Building Accountability and Rejecting Workplace Discrimination (BE HEARD) law to help end this devastating practice.
3. End discrimination against pregnant and breastfeeding workers
Many employers refuse to make reasonable accommodations to allow pregnant and breastfeeding mothers to be employed while providing for their physical needs. That’s why Biden plans to support the Pregnant Workers Fairness Act, which will require employers to welcome women affected by pregnancy, childbirth or related medical conditions.
4. Support women-owned businesses
Women make up 42% of business owners nationwide, but only 2% of all venture capital funds go to women-owned businesses. In other words, women are more likely to rely on their personal savings to start businesses, and Biden wants to help them get more support. It plans to provide direct federal funding to women-owned businesses, especially those owned by women of color. He also wants to expand small business loan programs to make them more accessible to women business owners.
5. Increase wages and benefits in female-dominated industries
Women are more likely than men to work as teachers and caregivers, two professions that are notoriously underpaid. Biden wants to put measures in place to ensure these roles command a fairer pay.
Clearly, Biden has many plans to improve women’s experiences in the workforce, and the fact that his new vice president is female is a testament to his commitment to this issue. Of course, Biden can’t act alone to help women be more successful in the workforce. It will need the support of lawmakers to adopt meaningful changes. But her comprehensive plan should be a point of encouragement for women who have long struggled to keep their jobs and earn decent and respectable wages.