today I wish to discuss the Women's Entrepreneurship and Economic Empowerment Act, WEEE Act, which the Senate Foreign Relations Committee reported yesterday afternoon. It has been my honor to work with Senator Boozman on this legislation, which House Foreign Affairs Committee Chairman Ed Royce and Representative Lois Frankel originally introduced. The House passed the measure on July 17, 2018. Yesterday, the Senate took a big step toward passing this important bill into law. Both here in the U.S. and abroad, how a country treats its women is a barometer of its success. I believe that, when women succeed, so do our communities, especially economically. The WEEE Act is critical in achieving this goal. It brings attention to helping women entrepreneurs, including those living in poverty, to access the tools they need to start and grow their businesses and invest in themselves, their families, and their communities. It recognizes that women are not always on a level playing field, particularly when they face discrimination, gender-based violence and harassment, and restrictions on their opportunities. Roughly 1 billion women around the world are currently left out of the formal financial system, which causes many to rely on informal means of saving and borrowing that are riskier and less reliable. In many countries, because men are considered legal heads of household, married women are required to receive permission from their husbands just to open a bank account.…
On the recordNovember 29, 2018
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