By David Lawder

WASHINGTON (Reuters), – U.S. Treasury Secret Janet Yellen stated Tuesday that limiting women’s access at abortion would have “very detrimental effects” on the U.S. Economy. She said it could keep women from completing college, reduce lifetime earnings, and prevent them from entering the workforce.

Yellen, in her testimony before the Senate Banking Committee, stated that studies have shown that denying access to abortions to women increases their chances of living in poverty and on public assistance.

“I think that eliminating women’s rights to decide about their own reproductive health and whether they have children or not would have extremely damaging economic effects on the economy” Yellen stated in response to a question, a week following the release of a Supreme Court draft decision which would invalidate a Constitutional right to abortion.

Yellen’s remarks were rebutted by Tim Scott, a Republican senator from South Carolina. He said that her evaluation of the economic implications of the abortion debate was “harsh” and not appropriate for such a difficult issue.

It is possible for people to differ on whether or not they believe in pro-life and/or pro-abortion. Scott stated that, in the end it felt callous because it was framed in the context labor force participation. Scott also said that his mother, a single parent, raised him in poverty.

Yellen replied by saying reproductive rights enable women to live “fulfilling, satisfying lives”, which also includes the ability to have financial resources for their children.

“A lot of abortions occur in teenage girls, especially low-income, often Black women who don’t have the financial means to provide for their children. It also deprives them often of the opportunity to further their education and later join the workforce.” Yellen stated.

Yellen explained that although there’s a spillover effect into the labor force, this means that children grow up in poverty and will do worse than their parents.