NW Valley Times

Issues facing a growing class of workers and small businesses in the gig economy were examined by the New Economy Tax Team, with special attention given to the upcoming 2025 tax negotiations. The New Economy Tax Team, under the leadership of Congressman David Schweikert [AZ-01], is upholding the promise of Ways and Means Chairman Jason Smith [MO-08] in identifying and developing legislative proposals that build on the success of the Tax Cuts and Jobs Act while devising a tax code that puts the ‘New Economy’ in a position to benefit communities and workers across the country.

The United States has a long history of encouraging entrepreneurship, business creation, and innovation. Heading into the 2025 tax cliff, it’s imperative to examine matters affecting an estimated 18.7% (JCT), with some estimates as high as 36%, of the American workforce participating in the gig economy.

“American ingenuity is best served when the government allows the mom-and-pop shop, as well as the budding entrepreneur, to strike out on their own and create something new and valuable, ultimately driving economic growth,” said Tax Team Chairman, Congressman David Schweikert.

“I thank Chairman Schweikert for convening important stakeholders for a roundtable with the New Economy Tax Team,” said Congresswoman Carol Miller [WV-01]. “As we prepare to extend President Trump’s Tax Cuts, one focus should certainly be on improving the code for gig workers and the internet economy to meet the needs of our constituents. I’ve long been a supporter of gig workers and small businesses owners, including sponsoring The Saving Gig Economy Taxpayers Act, which would restore the 1099-K threshold.”

“While Democrats are focused on finding new ways to tax hardworking Americans, I’m grateful to serve as Vice Chair of our forward-thinking tax team as we work to support innovative new sectors of our economy by improving the tax code,” said Congresswoman Beth Van Duyne [TX-24].

“I’m grateful for my friend Rep. David Schweikert’s leadership on the Ways and Means New Economy Tax Team. In our latest meeting we discussed ways to support our nation’s small businesses and independent contractors,” said Congressman Greg Murphy [NC-03]. “I look forward to continuing our work to deliver smart tax policies that put more money into the pockets of hard-working folks across the country.”

“The New Economy Tax Team is dedicated to ensuring our tax code benefits hardworking families across the country,” said Congresswoman Claudia Tenney [NY-24]. “It is essential we support emerging areas of the economy, particularly sectors and occupations engaged in innovative or nonstandard work, including independent contractors and self-employed small business owners, to allow them to succeed and promote economic growth.”

Nonstandard or alternative work arrangements—gig workers, independent contractors, freelancers, self-employed individuals, and remote workers—continue to rise in a post-COVID world.

Workers want autonomy, flexibility, and opportunities to supplement income. Small businesses seek flexibility alongside certainty in tax compliance. The New Economy Tax Team led by Congressman Schweikert will continue working diligently to ensure prosperity opportunities for all Americans.

Congressman David Schweikert serves on several committees including Ways and Means Committee where he is Chairman of Oversight Subcommittee. He also holds vice-chair positions on various caucuses such as Blockchain Caucus.

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