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Obama Announces Rules on Gender Pay Gap

Requires businesses to report more salary info.

The Obama administration announced rules Friday requiring companies to provide more data on worker pay. The press conference came on the seventh anniversary of signing the Lilly Ledbetter Fair Pay Act. The proposal, published by the Equal Opportunity Employment Commission and the Department of Labor, calls for annual reports of payment information by gender, race, and ethnicity. Any business with 100 or more employees would be required to submit salary information on a form they already submit to the federal government, giving authorities the information to crack down on companies that pay women less for doing the same work as men.