Beatty Rule Passes House of Representatives
WASHINGTON, D.C.—Today, the U.S. House of Representatives passed unanimously U.S. Congresswoman Joyce Beatty's (OH-03) signature piece of legislation, the Ensuring Diverse Leadership Act,H.R. 281, also known as the ‘Beatty Rule.' If enacted into law, the Beatty Rule would require that at least one gender diverse candidate and one racially or ethnically diverse candidate are interviewed when there is a vacancy among the Federal Reserve Bank presidents.
"Numerous studies show that diversity and inclusion are good for our economy. So, it is imperative that the people who help protect and grow our economy reflect the voice of every American," Beatty said. "Greater diversity at the Federal Reserve will help our nation create better jobs, more affordable housing options, and build stronger communities that can benefit all of our constituents." Beatty concluded, "I thank my colleagues for their support and look forward to continue working with Senator Harris to get this all-too important bill signed into law."
"When our country's leadership reflects the people they serve, all Americans benefit," said Senator Kamala Harris (D-CA). "Building an economy that works for every American requires ensuring that everybody has a seat at the table to make decisions about the direction of our economic policy. I am particularly grateful for Congresswoman Beatty's longtime commitment to diversity and inclusion at the Federal Reserve and throughout the federal government."
H.R. 281 is a bill modeled after the National Football League's (NFL) ‘Rooney Rule,' which was instituted in 2003 to increase diversity among top positions in the League. In the 12 years before the Rule went into effect, the NFL had only six non-white head coaches. Since the Rule went into effect, the League has had 18 total head coaches of color. Today, the Rooney Rule has been replicated by numerous companies off the gridiron.
The Ensuring Diverse Leadership Act is now awaiting further consideration by the U.S. Senate, where companion legislation was introduced by Senator Kamala Harris.
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