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U.S. Treasury Secretary Janet Yellen said that banning U.S. women's right to abortion would have high economic costs, reducing their income and pushing more children into poverty.
The Treasury Secretary said that allowing women to have abortions has boosted labor force participation. In this view, Yellen has made an economic case for guaranteeing all Americans access to abortion services.
"I believe that removing the right of women to make decisions about when and if they want to have children would have very damaging effects on the economy and set women back decades," the U.S. economist said at a Senate hearing in Washington.
The official referred to the 1973 U.S. Supreme Court ruling Roe v. Wade, which states that abortion is a constitutional right. Access to health care, including abortion, "helped increase labor force participation. It allowed many women to finish school. It increased their earning potential. It allowed women to plan and balance their families," Yellen said.
The Treasury secretary added that overturning the ruling would have lasting effects on children, particularly those born to low-income women, who would be more likely to "grow up in poverty and worsen" their situation.
As the debate around the future of abortion access grows more heated in the U.S., Secretary of the Treasury, Janet Yellen, warns that restricting access to abortions could have a negative effect on the U.S. economy. #cgtnamericapic.twitter.com/UAVTgDURur
Recently it was leaked a draft of a final decision of the U.S. Supreme Court in which it seemed decided to overturn the Roe v. Wade ruling. Later, some justices argued that it was not a final decision but was still under evaluation.
Chief Justice John Roberts has validated the authenticity of the draft Supreme Court ruling. It is scheduled to be officially issued at the end of June or early July. In essence, it would leave the abortion issue in the hands of elected officials in each state.