President Obama is trying to fix a lot of issues in the USA during his last year as commander in chief. One of the issues he promised to fix while running for office was the gender pay gap. Today Obama announces new rules to help fix this serious issue in America. Hit the jump for more.

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The new rule Obama is putting in place will force companies with over 100 employees to provide the government with annual data showing how much employees are paid based on gender, race and ethnicity. This will help expose companies that discriminate against those three social groups, in hopes to close pay gaps because of your gender, and/or color of your skin.

Obama explained on Friday why the gender gap is a very serious issue that people tend to sweep under the rug.

What kind of example does paying women less set for our sons and daughters? The notion that we would somehow be keeping my daughters … any of your daughters out of opportunity, not allowing them to thrive in any field, not allowing them to fully participate in every human endeavor, that’s counterproductive.

Right now for every dollar a male makes, a female makes 79 cents. So if a male and female are both equally qualified for a job, statistically speaking, if a male salary is $100,000 for a position, a female will make $79,000 doing exactly the same job as her male co-worker. That’s a lost of $21,000 a year, and $210,000 every ten years!

Watch this short video from the White House Twitter explaining the gender pay gap. Also hit the gallery to see a chart that shows the difference in pay between males and females.