The administration has a proposal that would make it easier for businesses to classify workers as independent contractors instead of employees. If finalized, it would cost workers at least $3.7 billion each year. 1/ epi.org/publication/ep…
This is a simple giveaway to corporate executives and shareholders. It is an absolute disgrace that this is what the Trump administration is focusing on right now. 2/
The (at least) $3.7 billion cost to workers of this proposal is comprised of at least $400 million in new annual paperwork costs for workers and at least $3.3 billion in reduced pay and benefits every year. 3/
Further, social insurance funds (Social Security, Medicare, Unemployment Insurance, and Workers’ Compensation) would lose at least $750 million annually in the form of reduced employer contributions. 4/
And these estimates are all conservative—the true impact could be many times these numbers. 5/
Additionally, due to occupational segregation, discrimination, and other labor market disparities rooted in structural racism, Black and Latinx workers are more likely to work in the occupations affected by this rule, and will lose more if it is finalized. 6/
There is still time to let the administration know how you feel about this! The comment period closes at 11:59 PM eastern time tonight (Monday). It’s incredibly easy to comment, just go to this site. 7/ actionnetwork.org/letters/submit…
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