FPPOProposed Rule
Pay Equity and Transparency in Federal Contracting
Labor & WorkplaceFinance & Banking
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Summary
This proposed rule would require companies that do business with the federal government to disclose how much they pay their employees and demonstrate that they're paying men and women fairly for the same work. The goal is to reduce gender pay gaps and increase transparency about wages at major contractors.
Key Points
- 1Federal contractors would be required to report employee salary data broken down by gender, race, and job type to prove they're paying people equally
- 2Companies bidding for federal contracts would need to show they don't have significant unexplained pay gaps between male and female workers doing similar jobs
- 3The rule applies to large federal contractors, affecting hundreds of thousands of workers whose employers receive government contracts
- 4Companies that fail to meet pay equity standards could lose federal contracts or face penalties
- 5This increases public accountability and gives workers more information about whether their employer is paying fairly compared to others
Key Dates
Published
January 8, 2025
This summary is for informational purposes only. It may not capture all nuances of the regulation. Always refer to the official text for authoritative information.
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