Janet Yellen and GOP senator spar over the economic impact of abortion rights

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New York (CNN)Treasury Secretary Janet Yellen addressed the economical consequences of overturning Roe v. Wade connected Tuesday during grounds earlier the Senate Banking Committee.

"I judge that eliminating the close of women to marque decisions astir erstwhile and whether to person children would person precise damaging effects connected the system and would acceptable women backmost decades," Yellen told lawmakers during an yearly reappraisal of the Financial Stability Oversight Council, which she chairs.

Yellen was responding to a question from Democratic Senator Bob Menendez of New Jersey astir the leaked draught sentiment that revealed the US Supreme Court could overturn the landmark case. The Treasury caput added that probe shows Roe v. Wade had a favorable interaction connected the well-being and adjacent the net of children.

    Republican Senator Tim Scott of South Carolina criticized Yellen's economical framing arsenic "harsh."

      "Did you accidental that ending the beingness of a kid is bully for the labour unit information rate?" Scott said aft Yellen's informing that rolling backmost termination rights would beryllium damaging to the economy. "Framing it successful the discourse of labour unit information conscionable feels callous to me," Scott added. "To me, it seems harsh."

      Yellen said that she did not mean to picture the economical effects of overturning Roe v. Wade successful a mode that was harsh.

      "Roe v. Wade and entree to reproductive wellness care, including abortion, helped pb to accrued labour unit participation," Yellen said. "It enabled galore women to decorativeness school. That accrued their earning potential. It allowed women to program and equilibrium their families and careers."

        Research makes wide that "denying women entree to termination accrued their likelihood of surviving successful poorness oregon request for nationalist assistance," Yellen said, successful apt notation to a September 2021 amicus little filed by much than 150 salient economists.

        "What we are talking astir is whether oregon not women volition person the quality to modulate their reproductive concern successful ways that volition alteration them to program lives that are fulfilling and satisfying for them," Yellen added. "One facet of a satisfying beingness is being capable to consciousness you person the fiscal resources to rise a child."

        Yellen noted that galore abortions are performed connected teenagers, often Black women from low-income backgrounds who whitethorn not beryllium successful a presumption to attraction for children pursuing unexpected pregnancies. She added determination is simply a spillover effect to the system due to the fact that unexpected pregnancies whitethorn deprive women of their quality to proceed their acquisition and impact their spot successful the workforce.

          "It means the kid volition turn up successful poorness and bash worse themselves," Yellen said.

          Scott responded by pointing to his ain background."As a feline raised by a Black pistillate successful abject poverty," helium said, "I'm thankful to beryllium present arsenic a United States senator."

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