Gig Economy Policy Questions for Our New Administration | DCR Workforce Blog

Gig Economy Policy Questions for Our New Administration

With the changes at the helm of the country, those of us who are heavily invested in the workings of the contingent workforce industry are understandably keen to estimate what policy changes can be expected from the new administration which has promised to produce many jobs.

We’re bursting with a number of questions, and would really appreciate knowing the answers to some of these pressing questions and doubts which we have regarding:

  • Taxation – Currently, independent contractors are taxed at a rate of 39.6%. What tax policies should independent workers and small business owners with relatively high taxable income (for example, over $75,000 for those filing jointly and $50,000 for those filing as individuals) expect that might impact their take-home income?
  • Regulation – Some industry experts argue that freelancers, consultants and contractors currently lack the benefits and legal protection they deserve. Does the new administration plan on creating regulations that will have an impact on these workers? And will these policies have any influence on the flexibility that many gig economy workers consider a major perk to independent work.
  • Agencies of Government - Some freelancers consider various government agencies to be rather unsympathetic to the nature of the gig economy and the way it functions. Under the new presidency, should we expect to see any changes in the approaches of agencies such as the National Labor Relations Board and the Department of Labor?
  • Misclassification – Independent worker misclassification is an issue often raised about the gig economy. How does the new administration plan to reduce the instances of worker misclassification, and what measures should businesses expect?

It would be definitely nice to have some of the unwanted business practices of the gig economy fixed by the new administration, and we’re very eager to see the improvements.


Disclaimer:
The content on this blog is for informational purposes only and cannot be construed as specific legal advice or as a substitute for competent legal advice. They reflect the opinions of DCR Workforce and may not reflect the opinions of any individual attorney. Do contact an attorney for advice specific to your issue or problem.
Lalita is a people/project manager with extensive experience in operations, HCM and training and development across industries like banking, education, business consulting, BPO and information technology. She believes in a dynamic approach to life and learning as change is the only constant.