With the election just days away, some American voters are staunchly committed to one candidate while others remain hopelessly undecided. If you fall into the latter category, consider the candidates’ positions on the gig economy and their plans for the on-demand workforce before casting your vote:
- On the Gig Economy. In contrast to her opponent, Clinton has openly expressed her opinion regarding the gig economy and her plans to address the perceived inequities in the American workforce. In a July 2015 speech, Clinton expressed that the “on demand or so-called ‘gig economy’ is creating exciting opportunities and unleashing innovation, but it’s also raising hard questions about workplace protections and what a good job will look like in the future.”
- On Misclassification. Clinton promises to continue the Obama administration’s efforts to address the misclassification “issue.” She has vowed to take a hard look at what she considers “wage theft” of misclassified employees, and plans to “crack down on bosses that exploit employees by misclassifying them as contractors or even steal their wages.” This could have a tremendous financial impact on small business, as well as major suppliers of on-demand workers like Uber and Lyft.
- On Portable Benefits. Clinton has advocated for a system of portable benefits (which would allow self-employed workers to obtain certain benefits that are traditionally provided by an employer, including health insurance, workers’ compensation insurance, unemployment, paid leave and sick days) but, so far, has not indicated how such a system would be funded or structured.
- On Tax Policy. Clinton’s proposed tax plan would create incentives and provide tax relief for small business and entrepreneurs, including independent contractors. Her plan to “promote strong, fair, long-term growth” will likely come at a cost for successful businesses of all sizes.
- On the Gig Economy. Trump has not issued a statement on the gig economy but, if elected, he promises to be the “greatest job producing president” of all time.
- On Misclassification. Trump has sidestepped the misclassification issue, but he plans to eliminate offshoring and reduce foreign competition, which could provide more opportunities to America’s ever-growing contingent workforce.
- On Portable Benefits. Trump’s tax plan will lower tax rates on business income for independent workers. Trump believes that workers can use the money they save on taxes to pay for their own benefits without the need for a portable benefit system.
- On Tax Policy. Trump has proposed a 15% reduction in tax rates for businesses and an increase in income tax rates for full-time employees. This proposal has the potential to create tax “breaks” or incentives for independent workers.