Biden moves to ban use of federal employees’ pay history
The Biden administration announced new measures. prohibit usage of Salary history For federal employees and contractors.
The proposed rule also pay transparency measures What we require contractors to disclose Coverage With job information.
“Relying on a candidate’s salary history exacerbates existing inequalities in the pay structure and disproportionately impacts women and workers of color,” Shalanda Young, director of the Office of Management and Budget, told reporters. There is a possibility.”
The move is part of an effort by federal employers to make the expected salary ranges clear in job postings and reduce salary secrecy. assist workers in negotiations.
This marks the 15th anniversary of the inauguration of the Biden administration. Lilly Ledbetter Fair Pay Act along with the announcement. This law was signed during the Obama administration and expanded protections against pay discrimination.
The restrictions for federal employees will be postponed to January 30th and take effect 60 days later. The proposed rules for federal contractors will be subject to a 60-day public comment period.
The Hill’s Alex Gangitano has more details here.
Welcome to The Hills Business & Economic Newsletterwe’re Alice Foley and Taylor Giorno — covering the intersection of Wall Street and Pennsylvania Avenue.
Key business and economic news impacting this week and the future:
Sen. Tammy Baldwin (D-Wis.) is calling on four major inhaler manufacturers to stop inappropriately listing their patents in the Food and Drug Administration’s (FDA) database. This action could delay the introduction of low-cost generic drugs to the market.
President Biden’s re-election campaign on Monday thanked former President Donald Trump for “lifting” strong news on the economy after he claimed credit for the stock market’s all-time high.
Former President Donald Trump, who is predicting economic ruin if he is not re-elected to the White House, said Monday that more than three years after leaving office, he should take credit for the stock market’s recent highs.
Upcoming news themes and events we’re watching:
of University of Michigan will be released in January consumer survey Tuesday at 10 a.m. ET.
of federal reserve announce a decision about Interest level The central bank has no plans to cut interest rates at this time, but leaves open the possibility of further cuts in the coming months.
Message from the Consumer Brand Association
ITC should reject harmful new tariffs on tinplate steel. Food and canning companies rely on imports because high-quality tin steel sheets are not manufactured in the United States. Tariffs will hurt U.S. consumers and domestic manufacturing jobs. learn more.
Let’s expand on the day’s story.
Business and economics news from other news outlets:
dow score Approaching the 6th record Treasury funding update in a pivotal week for markets strengthens outlook for 2024 (market watch)
Alaska Airlines plane appears to have left the Boeing factory without doing anything. critical bolt (wall street journal)
This year’s super bowl tickets The most expensive ever (CNN)
What other people are reading
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Everyone is being pushed too hard. see you tomorrow!
