Recently, Senator Anna Caballero of California has proposed a new bill to protect the earnings of child influencers on major social media platforms. The bill, called the Child Influencer Protection Act, seeks to protect the income generated by minors from both exploitation and excessive taxation.
The proposal comes at a time when numerous child influencers are appearing on platforms such as Instagram, YouTube, and TikTok. In 2020, child influencers were popular among consumers looking for content that appealed to their youth. Despite their popularity, many of these influencers may have limited knowledge and understanding of the contracts they are entering into, leaving them vulnerable to exploitation.
The proposed legislation seeks to provide parents and guardians guardians with more information and resources to help them support their children’s content-creation activities. For instance, the bill would require that influencers under the age of 18 receive written consent from a parent or guardian before signing any contract relating to their work.
In addition, the bill would require disclosure of any financial incentives from brands or companies, such as gifted items, monetary payments, and more. This will help parents both understand the extent of their child’s work and assess whether the benefits are equitable for their child’s work.
Finally, the bill seeks to protect the income of the child influencers by exempting their income from state taxes. It would also exempt certain child influencer earnings from the federal kiddie tax. This will ensure that the child influencers’ earnings are not taxed at a higher rate than they should be.
The bill could benefit both the child influencers and their parents. It is important to protect these children from exploitation, excessive taxation, and potential bankruptcy due to unforeseen circumstances. If the bill passes, it could provide an important safety net for young content creators and their parents. Hopefully, this bill can become a reality soon, providing the necessary protection and security for young influencers and their families.
Recently, Senator Anna Caballero of California has proposed a new bill to protect the earnings of child influencers on major social media platforms. The bill, called the Child Influencer Protection Act, seeks to protect the income generated by minors from both exploitation and excessive taxation.
The proposal comes at a time when numerous child influencers are appearing on platforms such as Instagram, YouTube, and TikTok. In 2020, child influencers were popular among consumers looking for content that appealed to their youth. Despite their popularity, many of these influencers may have limited knowledge and understanding of the contracts they are entering into, leaving them vulnerable to exploitation.
The proposed legislation seeks to provide parents and guardians guardians with more information and resources to help them support their children’s content-creation activities. For instance, the bill would require that influencers under the age of 18 receive written consent from a parent or guardian before signing any contract relating to their work.
In addition, the bill would require disclosure of any financial incentives from brands or companies, such as gifted items, monetary payments, and more. This will help parents both understand the extent of their child’s work and assess whether the benefits are equitable for their child’s work.
Finally, the bill seeks to protect the income of the child influencers by exempting their income from state taxes. It would also exempt certain child influencer earnings from the federal kiddie tax. This will ensure that the child influencers’ earnings are not taxed at a higher rate than they should be.
The bill could benefit both the child influencers and their parents. It is important to protect these children from exploitation, excessive taxation, and potential bankruptcy due to unforeseen circumstances. If the bill passes, it could provide an important safety net for young content creators and their parents. Hopefully, this bill can become a reality soon, providing the necessary protection and security for young influencers and their families.
