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Working for Women Worldwide - Embassy of the United States

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our nation’s economic security. <strong>Women</strong> are also pioneers<br />

in volunteerism and philanthropy.”<br />

<strong>Women</strong> cannot achieve such successes or equality<br />

unless <strong>the</strong>y have equal access to ownership, to private<br />

property, and to capital. All <strong>of</strong> <strong>the</strong>se coalesce in business<br />

ownership. One <strong>of</strong> <strong>the</strong> surest signs that women<br />

are advancing economically in a country is <strong>the</strong> growth<br />

in <strong>the</strong> number <strong>of</strong> women-owned businesses.<br />

Within <strong>the</strong> private sector, <strong>the</strong> growth <strong>of</strong> women<br />

entrepreneurs has been spectacular; that group now<br />

constitutes <strong>the</strong> fastest-growing component <strong>of</strong> <strong>the</strong><br />

small-business market. The number <strong>of</strong> private,<br />

women-owned businesses grew by 14 percent from<br />

1997 to 2002, compared with 7 percent growth <strong>for</strong> U.S.<br />

businesses overall. Employment at women-owned<br />

businesses has increased by 30 percent, compared with<br />

18 percent <strong>for</strong> all businesses nationwide.<br />

The head <strong>of</strong> <strong>the</strong> Small Business Administration,<br />

Hector V. Barreto, believes women entrepreneurs<br />

make an important contribution to <strong>the</strong> overall U.S.<br />

economy. In fact, he has said that women business<br />

owners are “where <strong>the</strong> growth and <strong>the</strong> jobs are coming<br />

from!”<br />

Part <strong>of</strong> <strong>the</strong> reason <strong>for</strong> this is that <strong>the</strong> economic<br />

climate in <strong>the</strong> <strong>United</strong> <strong>States</strong> is more favorable to small<br />

businesses. Like all U.S. businesses, women-owned<br />

businesses have benefited from recent changes to U.S.<br />

tax policies that encourage <strong>the</strong> purchase <strong>of</strong> capital<br />

equipment, accelerate tax relief <strong>for</strong> earnings used <strong>for</strong><br />

reinvestment and expansion, and reduce capital gains<br />

and dividend taxes. The phasing out <strong>of</strong> <strong>the</strong> estate tax<br />

(or <strong>the</strong> so-called death tax) has removed a discriminatory<br />

tax burden <strong>for</strong> thousands <strong>of</strong> family businesses,<br />

farms, and ranches, whose heirs may o<strong>the</strong>rwise have<br />

faced selling <strong>the</strong>ir businesses just to pay that tax.<br />

But <strong>the</strong>re are many o<strong>the</strong>r ways <strong>the</strong> U.S. government<br />

under <strong>the</strong> current administration supports<br />

women-owned businesses. For example, it has:<br />

* Increased government contracts to businesses<br />

headed by women;<br />

* Guaranteed small-business loans <strong>of</strong> $2.4 billion<br />

in 2003;<br />

* Operated 87 <strong>Women</strong>’s Business Centers around<br />

<strong>the</strong> nation, <strong>of</strong>fering counseling, financing, and<br />

workshops to over 100,000 clients in 2003 alone;<br />

* Sponsored five <strong>Women</strong>’s Entrepreneurship<br />

Summits in two years, where women can learn<br />

about acquiring capital, finding af<strong>for</strong>dable health<br />

care, and corporate networking; and<br />

* Launched a one-stop entrepreneur web site with<br />

online in<strong>for</strong>mation and resources called<br />

www.women-21.gov.<br />

In addition to business ownership, American<br />

women continue to make gains in so-called nontraditional<br />

occupations such as insurance sales staff, purchasing<br />

managers, photographers, physicians,<br />

chemists, mail carriers, and lawyers. <strong>Women</strong> also head<br />

some <strong>of</strong> <strong>the</strong> most vibrant companies, sit on <strong>the</strong> U.S.<br />

Supreme Court, are elected governors <strong>of</strong> states across<br />

<strong>the</strong> country, and head universities.<br />

Meanwhile, <strong>the</strong> <strong>United</strong> <strong>States</strong> has sought to<br />

make it more af<strong>for</strong>dable <strong>for</strong> women who want to stay<br />

home to care <strong>for</strong> <strong>the</strong>ir children or elderly parents to do<br />

so. Whe<strong>the</strong>r working inside or outside <strong>the</strong> home,<br />

women benefit from <strong>the</strong> increase in <strong>the</strong> child tax credit,<br />

<strong>the</strong> accelerated elimination <strong>of</strong> a marriage penalty in<br />

<strong>the</strong> tax code, and <strong>the</strong> expansion <strong>of</strong> those who qualify <strong>for</strong><br />

<strong>the</strong> lowest (10 percent) tax bracket. As a result, estimates<br />

show that more than 80 million women will<br />

save, on average, over $1,800 each year on <strong>the</strong>ir income<br />

taxes. O<strong>the</strong>r provisions signed into law in <strong>the</strong> recent<br />

past enhance <strong>the</strong> ability <strong>of</strong> women to save <strong>for</strong> <strong>the</strong>ir<br />

retirement and guarantee overtime protection <strong>for</strong> 6.7<br />

million low-income, salaried workers, four million <strong>of</strong><br />

whom are women.<br />

Political Empowerment<br />

<strong>Women</strong> in <strong>the</strong> <strong>United</strong> <strong>States</strong> have made great<br />

strides in improving <strong>the</strong>ir lives and <strong>the</strong>ir influence.<br />

More women, <strong>for</strong> example, now occupy senior government<br />

positions and are succeeding as business leaders<br />

and entrepreneurs.<br />

More women, in fact, have been appointed to senior-level<br />

positions in <strong>the</strong> federal government during<br />

<strong>the</strong> past four years than in any previous administration.<br />

These appointments included three Cabinet<br />

positions—Gale Norton, secretary <strong>of</strong> interior; Ann<br />

Veneman, secretary <strong>of</strong> agriculture; and Elaine Chao,<br />

secretary <strong>of</strong> labor—as well as Condoleezza Rice,<br />

national security advisor, and Margaret Spellings,<br />

assistant to <strong>the</strong> president <strong>for</strong> domestic policy. In addition,<br />

<strong>the</strong> administration’s first head <strong>of</strong> <strong>the</strong><br />

Environmental Protection Agency was Christine<br />

Todd Whitman, <strong>for</strong>mer governor <strong>of</strong> New Jersey.<br />

As First Lady Laura Bush said, “I’m proud that,<br />

in my husband’s administration, <strong>the</strong>re are more<br />

women in senior positions than in any presidential<br />

administration in history. Dr. Condoleezza Rice advises<br />

<strong>the</strong> president on <strong>for</strong>eign policy. Margaret Spellings<br />

is in charge <strong>of</strong> domestic policy. That means, at <strong>the</strong><br />

White House, women are in charge <strong>of</strong> everything<br />

abroad and everything at home. That sounds about<br />

right to me.”President Bush is continuing this practice<br />

<strong>of</strong> appointing women to top-level, decision-making<br />

62

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