Chairman Williams: “Independent Work, Real Opportunity: The Gig Economy and the Future of Entrepreneurship”

WASHINGTON, D.C. - Today, the House Committee on Small Business is holding a hearing titled "Independent Work, Real Opportunity: The Gig Economy and the Future of Entrepreneurship."

Chairman Roger Williams' opening statement as prepared for delivery:

Welcome to today's hearing, "Independent Work, Real Opportunity: The Gig Economy and the Future of Entrepreneurship."

The gig economy is broadly defined as an economy in which people earn income by providing on-demand work, services, or goods. Regardless of one's views on gig entrepreneurship, the truth is that it is becoming an increasingly large part of each of our everyday lives - especially for younger generations.

Today, gig entrepreneurship takes many forms and is commonly facilitated through digital platforms like apps and websites. Of course, ridesharing and delivery are major parts of the ecosystem, but there are many other industries that are part of the gig economy.

Some gig platforms are tailored towards housework, handyman projects, running errands, or cleaning. At the same time, other platforms cover professional services, such as IT, graphic design, and other freelance work.

One reason people turn to gig work is to gain flexibility and control in their work schedules.

Whether they are a student, grandmother, or aspiring entrepreneur, they can mold their gig work schedule to match their availability.

The gig economy supports American entrepreneurship by providing the flexibility and income needed to launch small businesses. It also allows entrepreneurs to get started quickly by leveraging a built-in customer base to kickstart their businesses.

The motivations that lead people to gig work, such as flexibility and self-ownership, also drive self-employment and entrepreneurship.

In 2025, as much as 36 percent of the U.S. workforce, or 70 million Americans, engaged in gig or freelance work, which generated roughly $1.5 trillion in annual earnings.

Which is why it was so surprising that the Biden-Harris Administration launched an all-out attack on the gig economy.

Under the Biden-Harris Administration, gig entrepreneurs were threatened with IRS audits if they did not report Venmo or PayPal payments over $600, and the Biden-Harris Department of Labor issued rules that added regulatory complexity, threatening to upend the gig economy altogether.

Thankfully, President Trump has reversed these decisions and changed the reporting threshold in the Working Families Tax Cuts Act. President Trump also boosted the gig economy and American workers through No Tax on Tips.

When small businesses and entrepreneurs have the autonomy to shape their own work, they are better positioned to earn, build, and succeed on their own terms, leading to a more resilient American economy.

Thank you to our witnesses for joining us today. I look forward to the conversation ahead.

I now recognize the distinguished Ranking Member, Representative Velazquez, for her opening remarks.

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