New York City Council passed regulations on ride-hail companies on Wednesday, capping the number of vehicles on the road for one year and requiring that drivers to be paid a minimum wage. From a report: Council Speaker Corey Johnson said earlier that the regulations are intended to protect drivers, fairly regulate the industry and reduce congestion. The year-long cap on new licenses for ride-hailing vehicles will take place while the Taxi and Limousine Commission (TLC) studies the effects of ride-hail service in the city. The cap would not apply to new wheelchair-accessible vehicles or new vehicles serving an area demonstrating need in a way that does not increase congestion. App-based ride services account for 80,000 vehicles in New York City, and provide 17 million rides per month, according to a study by The New School for the TLC. The surge in ridership coincided with increased resident frustration with the local subway system. With the move on Wednesday, New York City, the largest American market for Uber, has become the first major American city to restrict the number of ride-hail vehicles and to establish pay rules for drivers. In a statement issued moments ago, New York Mayor Bill de Blasio said," Our city is directly confronting a crisis that is driving working New Yorkers into poverty and our streets into gridlock. The unchecked growth of app-based for-hire vehicle companies has demanded action -- and now we have it."
Read more of this story at Slashdot.