But not everyone thinks the legislation is a good idea.
Critics argue that the legislation opens businesses up for unfounded lawsuits and that the bill itself fails to address the central problem.
"It threatens to impose onerous requirements on employers to correct gaps over which they have little control," Christina Hoff Sommers, a fellow at the American Enterprise Institute wrote in the New York Times last year.
"But that wage gap isn't necessarily the result of discrimination. On the contrary, there are lots of other reasons men might earn more than women, including differences in education, experience and job tenure."
In the meantime, the Obama administration could act through executive orders to make small changes.
The president could issue an executive order requiring the government to only accept government contracts with companies that pay men and women equally for the same job.