On the recordJuly 17, 2018
I want to thank the gentleman for yielding. I thank Chairman Royce and Ranking Member Engel for bringing this legislation, but especially my colleague, Congresswoman Frankel, for being such a champion for women's rights and issues not only in this country, but around the globe. I am proud to be a cosponsor of this bill, the Women's Entrepreneurship and Economic Empowerment Act, which, as you have heard by those more eloquent than I, will help to ensure that women's economic development is a fundamental tenet of U.S. development policy. Women tend to spend more of their money on family costs like education and healthcare than men do. Unfortunately, they lack access to financial services and must rely on riskier and less reliable means of borrowing and saving. If global gender parity in economic activity were achieved, we could add as much as $28 trillion to the annual global GDP. That should be incentive enough for us to work to ensure that our government understands and has the capabilities to meet the unique economic needs of women, particularly since women represent more than half the world's population and a majority of the world's poor. Now, in addition to serving on the Foreign Affairs Committee, I am proud to be the co-chair of the Congressional Mongolian Caucus. We are working with the Mongolian Government to support the cashmere production industry to diversify its mining-dependent economy.…





