March 01, 2019
Senator Mark Warner (D-VA) has reintroduced a series of bills aimed at the 21st-century workforce, including measures enabling entities to experiment with portable benefits for gig workers, making it easier for non-traditional workers to get mortgages, and encouraging employers to upgrade workers’ skills.
The Portable Benefits of Independent Workers Pilot Program Act would provide grants to parties capable of designing a portable benefits program tailored to suit independent contractors, gig workers, and other self-employed individuals.
The Investing in American Workers Act would give employers a 20 percent tax credit for investments in worker training programs greater than what the company spent on addressing the skills gap over the previous three years.
The Self-Employed Mortgage Access Act would help creditworthy borrowers with non-traditional forms of income, including the self-employed and gig workers, by allowing lenders to verify income using additional forms of documentation other than the W-2.
The takeaway: With various studies showing AI and automation likely to disrupt large numbers of jobs over the next ten years, Americans are more likely to change jobs and be engaged in non-traditional forms of work than in the past. According to Sen. Warner: “We can’t and shouldn’t try to regulate our economy into looking like it did 50 years ago, but we can and must do a far better job than we’ve been doing to prepare workers for economic shifts and changes in the nature of work.”