DC: California Democratic Sen. Kamala Harris unveiled a policy proposal to close the pay disparities between men and women by mandating corporations to disclose wage data and earn “Equal Pay Certifications” Monday.
Corporations that do not secure certification would be fined 1% of their profits for every 1% pay gap for the same work, The Associated Press reported Monday. Federal contractors will be required to receive the certification within two years of Harris presiding in office or they would not be allowed to compete for contracts valued more than $500,000.
“Kamala Harris has a simple message for corporations: Pay women fairly or pay the price,” her campaign said, according to The AP.
Companies would also need to disclose top-earners who are women and total pay and total compensation gap that exists between the genders regardless of position, experience and performance under the policy, the AP reported.
The proposal shifts the responsibility from employees to corporations when addressing pay discrimination, according to the AP. more here