Minimum wage for independent contractors?

Minimum wage rules affect hourly rates for employees. But here’s a first: New York City’s Taxi and Limousine Commission has created a minimum wage rule for app-hailed drivers who are independent contractors with Uber, Lyft, Via, and Juno. The rate for the approximately 80,000 drivers in NYC is set at $17.22 per hour (higher for those with wheel-chair accessible vehicles), which is meant to equate to the $15 minimum wage rate for employees after factoring in contractors’ expenses and taxes. The rule likely will go into effect later this month.