This was originally published elsewhere on 11/10/2010 under the title, “Paycheck Fairness Act will enrich trial lawyers, but further depress the job market”; what follows is an edited version.
The Paycheck Fairness Act would transfer large sums of money from employers to trial lawyers and litigants… money that might otherwise be spent on expanding business and hiring new employees. It would also prevent employers from setting wages based on market forces; hence it’s another government measure undermining capitalism in this country.
President Obama has urged the Senate to pass this bill, saying:
I thank the House for its work on this issue and encourage the Senate to pass the Paycheck Fairness Act, a common-sense bill that will help ensure that men and women who do equal work receive the equal pay that they and their families deserve. Passing this bill is one of the Task Force’s key recommendations, and I hope Congress will act swiftly so that I can sign it into law.