Gig worker bill passes California senate

Reshaping the gig economy, California lawmakers have approved a landmark bill that requires companies like Uber (NYSE:UBER) and Lyft (NASDAQ:LYFT) to treat contract workers as employees.

Some estimates suggest costs for those firms would increase by 30% as a result, while opponents of the bill say it will hurt those people who want to work flexible hours.

The bill, known as Assembly Bill 5, may also influence other states. A coalition of labor groups is pushing similar legislation in New York, and bills in Washington State and Oregon could see renewed momentum.


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