New York extends cap on for-hire vehicle licenses

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New York extends cap on for-hire vehicle licensesMayor Bill de Blasio announced Wednesday that New York will extend a cap on the number of licenses issued to for-hire vehicles operated by companies such as Uber and Lyft. 'For too long, app companies have taken advantage of hardworking drivers, choking our streets with congestion and driving workers into poverty,' de Blasio said in a statement. Currently, the number of for-hire vehicle licenses exceeds 120,000 in the city, according to a report released this month by the Taxi and Limousine Commission.

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