Greater Accountability in Pay Act of 2021

Bill 117 hr 1188, also known as the Greater Accountability in Pay Act of 2021, aims to address pay disparities in the United States by requiring companies to report information on employee compensation. The bill would require companies with 100 or more employees to disclose the median pay for all employees, as well as the median pay for women and minorities. This information would be made publicly available in an effort to increase transparency and hold companies accountable for any pay disparities based on gender or race.

Additionally, the bill would require companies to provide a justification for any pay disparities that exist within their organization. This justification would need to be submitted to the Equal Employment Opportunity Commission (EEOC) and would be subject to review to ensure compliance with equal pay laws.

The Greater Accountability in Pay Act of 2021 has garnered support from advocates for pay equity, who argue that increased transparency is necessary to address the persistent wage gap between men and women, as well as disparities faced by minority employees. Critics of the bill, however, have raised concerns about the potential burden on businesses to comply with the reporting requirements and the potential for the data to be misinterpreted or misused. Overall, the Greater Accountability in Pay Act of 2021 represents a significant step towards addressing pay disparities in the United States and promoting greater accountability among companies when it comes to employee compensation.