(BPT) - By Janet MurguÃa
The Latino community believes deeply in the promise of America. It is for this reason that Hispanics remain among the most optimistic of Americans, according to decades of polling. At the heart of that optimism is the belief that if you work hard and play by the rules, anyone can achieve their American dream.
But for many Latino families and working-class families today, the path to their own American dream has never been more challenging. And that's not just bad news for Latinos — it's bad news for America, because when Latino families struggle, so does the broader economy: our businesses, workforce contributions and consumer spending are engines of national growth, and limiting our prosperity limits the nation's collective potential.
So over the past year, UnidosUS traveled to 15 states, sat with more than 600 people and asked a simple question: What does it take to get ahead in America today?
UnidosUS was a pioneer in making the connection between the well-being of Latino workers and the nation's future prosperity more than 25 years ago. Many of the same themes we have heard over the years echoed in our conversations: an economy powered by our community that is leaving too many people behind.
Here's what we are hearing: Housing is out of reach. Wages don't stretch. Health care is too expensive. Families are just one unexpected bill away from financial collapse.
What emerged from those conversations is a new vision: UnidosUS's Economic Prosperity Agenda creates a national blueprint for action, focused on areas where action can make the biggest difference, including the cost of housing, the quality and stability of work, the ability to start and grow a business, and the basic supports families need to stay afloat.
This isn't just a plan to strengthen economic mobility for Latino families, it's a plan to maximize shared prosperity for the country — because investing in Latino prosperity is a central economic strategy that will power America's economic future.
Our housing proposition is one of the clearest examples.
For many families, the dream of homeownership is slipping out of reach. Not because they aren't working for it, but because the goal posts keep moving. Latinos have demonstrated that they eagerly want to become homeowners. Giving a helping hand to potential buyers will help close the homeownership gap and create 2.9 million new buyers while also giving a boost to the struggling middle class and working families housing market.
Even as families work toward homeownership, some Latino entrepreneurs are starting businesses, creating jobs and strengthening their communities often without the same access to capital or networks as others. Latinos represent one-in-five Americans, but far fewer business owners. Closing that gap could unlock $11 trillion in business revenue and $2.5 trillion in worker pay over the next decade.
For many families, the most difficult trade-offs are the most personal: choosing between a paycheck or caring for a loved one; paying rent or paying for medication. We've already seen what works. The expanded Child Tax Credit reached 61 million children, boosted consumer spending by $28 billion and created 500,000 jobs. Expanding access to health care, paid leave and childcare isn't a luxury; it's what allows families to survive and plan for the future.
Latinos are the youngest and fastest-growing segment of the American workforce; and UnidosUS projects Latinos will account for nearly one-in-three new workers by 2030. This is a central economic fact of this decade. The ladder that Latino families have spent generations climbing is the same one that will lift up this economy.
Our Economic Prosperity Agenda is a statement of our values, a call to action and a vision for our future.
Janet Murguía is president and CEO of UnidosUS, the nation's largest Hispanic civil rights and advocacy organization. Learn more at unidosus.org.
