This study investigates whether female politicians empower women in corporate leadership positions. Employing a stacked difference-in-differences approach in a sample consisting of the US House of Representatives mixed-gender close elections between 2000 and 2020, we find that female CEOs/CFOs take more risks after witnessing the close wins of their local congresswomen over male candidates. These female-led firms also experience a lower cost of capital following the win, potentially attributed to their increased ability to attract institutional investors and garner government customers. In addition, female CEOs exhibit a more positive tone in addressing questions during conference calls after a congresswoman defeats a male opponent in a close race. We further confirm an average positive market perception toward female-led firms upon the close wins of their local congresswomen. Overall, this study uncovers the influence of female politicians to empower female leaders in the corporate arena, yielding important implications for firm performance and capital market consequences.