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Yellen says outlawing abortion would hurt U.S. economy, 'set women back decades'

Following the recent leak of a Supreme Court draft opinion indicating justices will soon overturn Roe v. Wade, Treasury Secretary Janet Yellen says banning the procedure would be “very damaging” to the U.S. economy because it would inhibit women from being able to balance their careers and their families.

“I believe that eliminating the right of women to make decisions about when and whether to have children would have very damaging effects on the economy and would set women back decades,” Yellen said Tuesday at a Senate Banking Committee hearing.

The 1973 landmark Roe v. Wade ruling guaranteed women across the country the constitutionally protected right to an abortion.

Yellen said that the original ruling allowed women to finish academic degrees, thereby increasing their earning potential, which led to higher workforce participation. 

“Research also shows that it had a favorable impact on the well-being and earnings of children,” she also argued.

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