The New York City Council on Wednesday passed a cap on the number of ride-hailing vehicles allowed to operate in the city, in a major blow to companies like Uber and Lyft.
Source The Hill
The New York City Council on Wednesday passed a cap on the number of ride-hailing vehicles allowed to operate in the city, in a major blow to companies like Uber and Lyft.
The cap, the first to be imposed in a major city, will last for one year while the city conducts a survey on the impacts of the ride-hailing fleets.
Lawmakers who backed the measure cited congestion in the city and hoped that it would stop the decline in compensation for drivers, according to WABC in New York.
