Women’s History Month is not only a celebration of the progress and impact that women have made in the economy, but also an opportunity to shed light on the systemic barriers that restrict women from participating in the economy at their fullest potential. At Prosperity Now, we are dedicated to driving change that will enable all women to prosper financially and achieve economic success.  

The Economic Challenges Women Face 

Lack of investment: Studies show that Black women are starting businesses faster than any other racial group. However, women-owned businesses still make up only 31% of all U.S. businesses. Women entrepreneurs are a growing market force, serving as a critical source of innovation and job creation and fueling economic growth. However, women-owned businesses do not have equal access to the capital needed to stabilize or expand. One way to increase the number of women-owned businesses is to improve the ecosystem of support for female entrepreneurs, including access to capital. Another way is to support programs like the SBA's Community Navigator pilot that seek to provide necessary supports for BIPOC entrepreneurs, which includes women of color. 

COVID-19 made working untenable for women: The pandemic caused many people to leave the workforce, especially women. As some workers return, studies have shown there are fewer women of color returning to work due to the lack of well-paying jobs and rise of family care obligations. On top of this, the pay gap still exists, with women getting paid less than their male counterparts and women of color getting paid even less than white women.

What Economic Justice for All Women Looks Like

 So, how do we achieve economic justice for all women? To start: 

• Make programs like the Earned Income Tax Credit (EITC) and the expanded Child Tax Credit (CTC) more powerful and permanent. EITC and the CTC will help empower women and give them more freedom to participate fully in the economy by providing an income boost to use for household expenses and keep their families out of poverty.  

• Transform the systems that hold women back through policy. Congress can start by passing the Equality Act into law so that all women of all races and economic background are paid equally to men. 

Using Social Media to Drive Awareness 

This Women’s History Month, the Communications Team at Prosperity Now worked to raise awareness about the solutions above. For example, every Tuesday through tax season, we release a video explaining the benefits and raising awareness around the expanded Child Tax Credit and EITC. You can check out the full series below: 

• Making Tax Policy More Inclusive    

• What you might not know about the Earned Income Tax Credit   

• 3 Things You Need to Know About the Child Tax Credit  

• Funding IRS Volunteer Income Tax Assistance Program (VITA) 

• Four Facts Latinxs Need to Know about the Child Tax Credit 

In addition to this campaign, we leveraged commemorative days to bring awareness to inequalities women face and resources to help achieve financial stability.  

• Equal Pay Day – On March 15, we shed light on the wage gap between women and men by noting the number of days in the year it would take for women’s wages to catch up to that of white men. But we also recognize that for women of color, specifically, face a different reality. For example:  

  • Asian American, Native Hawaiian and Pacific Islander Women’s Equal Pay Day is May 3. 

  • Black Women’s Equal Pay Day is September 21. 

  • Native Women’s Equal Pay Day is November 30. 

  • Latina’s Equal Pay Day is December 8. 

• VITA Awareness Day -- On March 16, we brought people and organizations together to highlight the importance of VITA programs that help thousands of women get their biggest refund every tax season. 

As a Communications Associate and member of our Marketing Team, I have the opportunity to reach thousands of followers on our social media channels and help spread the word on solutions to issues surrounding racial economic equity in new, creative ways. I'm excited to continue ringing the bell for an idea near and dear to my heart: a strong economy that works for everyone, where women participate fully.