The committee issued the report to address assertions of U.S. Treasury Secretary Janet Yellen and other economists that limiting abortion would negatively affect the economy, as it would reduce females' employment opportunities.
“These arguments overlook the far greater economic cost of unrestricted abortion when accounting for the lost lives of the unborn,” Republicans say in the report, titled “The Economic Cost of Abortion.”
The report distinguished itself from prior reports of government agencies by highlighting the economic impact of abortion in the eyes of unborn infants is “been omitted from previous analyses.” The report says:
Employing standard valuation methodologies employed for government organizations to determine the cost and benefit of their policies, which affect mortality risk, we estimate that the cost to the economy of abortions for unborn babies across the U.S. was $6.9 trillion in 2019, which is 32 percent of the gross domestic product (GDP) in that year. The cost was four times greater than what $16.2 billion loss of earnings that new mothers could be expected to experience in the first six months of their child's existence.
The report also stated the fact that aborting “shrinks the labor force.” Republicans determined that in the event that all 63 million infants aborted since that Supreme Court's 1973 Roe V. Wade decision had been otherwise brought to term and survived to this day, “they would add nearly 20 percent to the current U.S. population.” Of these 45 million, they would be in the working age range (18 up to 64).
The report concluded that the abortion process additionally “weakens the solvency of Social Security and Medicare.” According to the report:
Senior Americans (age between 65 and above) made up a record high of 16.3 percent of the U.S. population as of 2020. The share is projected to rise to 20.4 percent in 2040. This change in the demographics will make it harder for the comparatively smaller percentage of children to take care of their parents in their later years. This will add pressure on Social Security and Medicare, which are funded by the earnings of Americans who are working.
Republicans have also said that faster expansion could be “especially pressing” given current estimates that the economy in the U.S. will “grow at a historically slow pace” that is around 1.5 percent annually. This slowing rate is due mostly to the slowing of growth in the population caused by low fertility rates in the report.
“The U.S. total fertility rate was 1.7 births per woman as of 2021, which is well below the replacement level of 2.1 births per woman,” according to the report.
The report also highlighted the impact of abortion on the diversity of the United States. Particularly, the report highlighted the fact that black women undergo abortions at 23.8 percent for every thousand women, “nearly four times the rate at which white women have abortions.”
In the year 2019 alone, Black women of non-Hispanic origin accounted for 38.4 percentage of the abortions, as compared with 33.4 percent of white non-Hispanic women. This is a significant percentage due to the fact that 12.9% of women are non-Hispanic black and 60% are white, as the report says. The report states:
This creates an U.S. population that is less diverse in terms of race and ethnicity than it would be if abortions were not prohibited. Also, abortion reduces diversity due to selective termination of babies suffering from disabilities. A prior JEC Republicans report concluded that abortions with selective methods will decrease the number of Americans who suffer from Down syndrome by more than 200 thousand people in the coming 50 years.
In addition, JEC Republicans estimated that basing their calculations on their estimates of 3.7 million births counted in the year 2019 within the U.S., eliminating abortion will reduce the chance of infant mortality by as much as fourteen percentage point.
In light of the evidence and facts, Republicans acknowledged in their conclusion that abortion “at its core is a moral issue rather than an economic one.”
“But even when viewed in economic terms arguments that argue that abortion positively affects economy do not take into account the financial burden of abortion on newborn babies as well as to society at large. The costs are far greater than the short-term labor market benefits of abortion, which are often mentioned by policymakers and economists,” the report concludes.