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NYC Considers Cap on Ride-Sharing Services
The New York City Council is considering five bills that among other things would put a 12-month freeze on new for-hire vehicle licenses. If the measures are enacted, they’d make New York the first major U.S. city to put a cap on ride-sharing services such as Uber and Lyft.
“We are pausing the issuance of new licenses in an industry that has been operating without checks,” Council Speaker Corey Johnson told reporters.
The number of vehicles operated by app-based services has grown to more than 100,000 over the past five years, according to the city’s Taxi and Limousine Commission, and traffic congestion has increased while demand for yellow taxis has declined. Mayor Bill de Blasio unsuccessfully sought to curb the industry in 2015.
However, Uber fired back with an email to nearly five million New Yorkers. The company said riders, especially in outlying areas, would suffer the most.
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- ◦Economy
