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The U.S. economy will not operate at its full potential unless government and employers remove impediments to full participation by women in the labor market. The failure to address structural problems in labor markets, tax, and employment policy that women face does more than hold back their careers and aspirations for a better life. Barriers to participation by women also act as brakes on the national economy, stifling the economy’s ability to grow. To address these problems, The Hamilton Project published this book featuring a host of public policies to promote women’s economic opportunity.
Popular commentary often points to the lower lifetime earnings and longer expected life spans of women relative to men as a reason to be especially concerned about the economic risks women face as they age. Indeed, women aged 65 and older are twice as likely as their male counterparts to live in poverty. Disability and widowhood are major drivers of economic insecurity for women later in life. To reduce the risk of economic insecurity among older women, the authors propose to allow Social Security beneficiaries to forgo some benefits when claiming to finance greater benefits in the event of widowhood, disability, or both. The proposed changes would be voluntary and self-financing.
On February 26th, The Hamilton Project hosted a forum featuring a diverse group of experts from around the country who discussed 13 targeted policy proposals that were released that day on reforming entitlement spending, tax reform, and how to create new sources of revenue and efficiency. The proposals provide specific strategies on how lawmakers can address many different areas of the budget, and address options to reduce both mandatory and discretionary spending.
Karen Dynan examines the design of government incentives for personal savings, outlining how reforms to these programs would improve saving and economic security for low-income households and reduce expensive and ineffective federal subsidies for high-income households.
Vice President Joe Biden gave the keynote speech at a forum to kick-off The Hamilton Project’s 2010 policy agenda. The event featured two roundtable discussions to highlight innovative policy ideas and the more general challenges facing the U.S. economy.