ALBANY, N.Y. (CBSNewYork) – A new law preventing companies from charging men or women more for the same product is one step closing to being passed in New York.

The legislation would end the so-called “pink tax” and prohibit businesses from charging different prices for products that are essentially the same, but branded differently for men and women – such as shampoo, shaving cream, or razors.

A study by officials in New York City found that prices on goods marketed to women are seven percent higher than prices for men’s products.

The legislation has passed the state assembly, and will now move onto the senate.