Representatives Yvette Clarke (D-NY) and Beth Van Duyne (R-TX) started bipartisan Congressional Creators Caucus Thursday, which aims to support the creator’s economy.
Although it once seemed like a pipe dream of living on the internet, this industry has become a reality-Oxford Economics estimates that the YouTube ecosystem only supplied more than 390,000 equivalent full-time jobs in 2022, while Goldman Sachs estimates that the economy could be worth 20.
But the US government does not have much regulatory supervision or understanding of the creator’s economy as it is, leaving the creators’ businesses in a commitment.
“As the electronic presence of digital content creators continues to reach billions worldwide, Congress must work to ensure that there are resources and protections to support their success in this new era of newly established businesses,” Clarke spokesman said in a statement.
Matthew Patrick (Matpat) and Stephanie Patrick, who founded the popular digital theoretical media studio, spoke at a press event for the launch of Caucus. The wife’s twin and the wife have spent more than a year in pressure in the Capitol to support the needs of the creators.
“We are trying to train legislators about what the creator’s economy is and that it is a real job and that we are actually small businesses and therefore there are some tax codes and things that apply to small businesses,” Matthew Patrick (the creator known as Matpat) at Techcrunch. “Even when you talk to the accountants. It’s like, well, are you?
The Patricks have also prompted to point out that the creator’s economy is not an industry limited to coastal, to hotspots of the entertainment industry such as New York and Los Angeles – rather, it is an industry that needs the whole nation. Mass theoretical media and MRBEAST, the most popular youtubers in the world, are based on North Carolina. Meanwhile, John and Hank Green used their success on YouTube to start businesses such as Educational Media Company Compoundlywhich is based in Indiana and Montana.
Father And Youtube, two of the most vital companies that help creators’ businesses, confirmed their support for the new team.
As a Patreon blog post explainsCreators often create businesses without the same protections that have more traditional businesses, such as insurance, disaster relief and access to loans. Even the newly established businesses, such as Karat Financial, have been developed to fill in some of these gaps by providing business credit cards and banking work to creators who often deprive these services, because legal financial institutions do not understand their businesses.
“Very often, creators are overlooked in economic policy debates – despite small business owners, employers and cultural tastemakers in every area of Congress,” explained Courtney Duffy, head of foreign affairs and strategic commitment to Patreon. “Congress’s bilateral creators are a crucial step towards recognizing their impact and ensuring that they have a place on the table in shaping policies that influence their livelihoods.”
