Reuters
New York plans to cap ride-hailing services including Uber Technologies Inc. and Lyft Inc., becoming the first U.S. city to take such a step.
The New York City Council voted Wednesday to freeze new vehicle licenses for one year while the city studies ways of reducing traffic congestion, among other steps.
Mayor Bill de Blasio, who has championed the measures, is expected to sign the legislation in the coming weeks.
Council members approved a package of bills after months of protests from taxi drivers and others in favor of them and a campaign by the ride-hailing companies urging customers to oppose the bills. The firms warned that the cap would lead to reduced service in the outer boroughs and to higher fares at a time when the city’s subway and bus systems are struggling.
An expanded version of this report appears on WSJ.com.
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