Biden Administration Mulls Reclassifying Independent Gig Workers as Employees Nationally

Lyft (NASDAQ: LYFT) and Uber Technologies (NYSE: UBER) may end up having to classify their drivers as employees after all.

Months after California voters overturned a controversial state law requiring gig-economy companies to reclassify their independent contractors as employees -- which would have cost the companies hundreds of millions of dollars in pay and mandated benefits -- the Biden administration is now considering imposing similar rules nationwide.

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Source Fool.com