business
Uber and Lyft Cap in NYC
Aug 9, 2018 at 02:31 PM
Photo by Free-Photos

The Quick Facts

  • Yesterday, August 8th, New York City became the first US city to place a cap on the number of Uber, Lyft, and other ride-sharing vehicles allowed to operate in the city. 
  • The group of bills approved by the New York City council includes a one-year freeze on new for-hire vehicle licenses and mandates a minimum hourly wage for ride-share drivers.
  • Mayor Bill de Blasio has voiced support for the bill, saying it is necessary to minimize gridlock traffic conditions in the city and improve industry wages. 
  • Rideshare companies and other critics argue that the new law would unnecessarily cripple the transportation industry, making it more difficult and expensive for people to get around the city. 
  • Joseph Okpaku, the vice president of public policy at Lyft, said in a statement, “These sweeping cuts to transportation will bring New Yorkers back to an era of struggling to get a ride, particularly for communities of color and in the outer boroughs.”

Food For Thought

Is a cap on ride-share vehicles in New York City necessary reform, or a setback for the transportation industry?

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