Cap on Ride-Hail Vehicles Approved by Council

New York became the first major city in the U.S. to cap ride-hailing services such as Uber and Lyft after the City Council approved a legislative package on Aug. 8 that set regulations for the companies. The city will not issue new licenses for ride-hail vehicles for one year while the Taxi and Limousine Commission conducts a study on the services. The legislation also establishes a minimum wage for drivers.

The value of the taxi medallion has plummeted with the emergence of the ride-hailing apps and left drivers, many of them immigrants, with massive debt and other financial pressures. Several have committed suicide including Chinese immigrant Yu Mein “Kenny” Chow. His brother Richard met with officials in the Council chambers at City Hall following the vote.

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