New Capitalism

As the year comes to a close, we are thankful for the support and interest we have received in examining how work is changing and what can be done to help workers and businesses meet the challenges that new technologies and a changing workforce present.

The Advisory Council, led by former Delaware Governor Jack Markell, will guide the Initiative’s strategy and identify solutions to help workers and businesses succeed in a changing economy.

With a rise of nontraditional work and a decline in organized labor, gig workers are seeking out ways to build collective voice. The Independent Drivers Guild in New York is one example of a form of new worker voice coming out of the platform economy.

Sens. Warner, Casey, and Stabenow introduced legislation on worker training tax credits similar to a Future of Work Initiative proposal.

To address the challenges of rising independent work, stagnant wages, modest productivity increases, skill mismatches, and the growing impact of automation, Theresa May appointed former Tony Blair policy chief Matthew Taylor to lead a review of the changing nature of work in the UK. Many of the report’s conclusions and recommendations echo those discussed in the Future of Work Initiative’s Toward a New Capitalism and the Portable Benefits Resource Guide reports.

Earlier this month, Washington Governor Jay Inslee signed into law a bipartisan plan to guarantee family and medical leave to workers in the state. Importantly, this plan includes a provision that allows self-employed workers to buy into the system. As our national conversation on family and medical leave heats up, policymakers should learn from state experiences and ensure that these programs include independent workers.

In a world where workers are receiving less training, and where the next wave of automation threatens massive job disruptions, the need to help workers access lifelong learning opportunities is critical. Options like Lifelong Learning Accounts could help workers better manage their economic future by incentivizing workers, businesses, and government to co-invest in the development of worker skills over the course of their careers.

Sen. Warner introduced legislation on portable benefits that builds off of a Future of Work Initiative proposal.

The California Legislature and the Governor struck a deal to reform its EITC to include self-employment income, expanding the credit to approximately 130,000 independent workers.

One week after the bill’s introduction, we’re tracking responses to the first ever Federal portable benefits bill. Here’s what some experts and leaders are saying about the legislation sponsored by Future of Work Initiative Honorary Co-Chair Sen. Mark Warner and Rep. Suzan DelBene.