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.
Read the complete article at http://thehill.com/policy/transportation/automobiles/400976-nyc-passes-restrictions-on-uber-and-lyft-vehicles
