2020 Democratic candidate Sen. Kamala Harris revealed a proposal Monday to help close the gender pay gap in the U.S. by fining companies with more than 100 employees that don’t guarantee equal pay, CNN reports.
Why it matters: Full-time women in the workforce earned 80% of what males earned in equivalent professions while black and Hispanic women earned even less, according to 2017 data from the U.S. Census Bureau.
Harris writes in her plan:
- If approved by Congress, companies would be required to submit data on what they pay employees annually.
- Companies who do not comply will be penalized 1% of their daily profits for every 1% gap in pay between men and women.
- The Harris campaign calculated that fines would total about $180 billion in 10 years, which she plans on investing in paid family leave and medical leave.