NYC Sets Minimum Pay Rate For Uber, Lyft Drivers

NEW YORK ESTABLISHES REGULATIONS FOR UBER AND LYFT DRIVERS THAT INCLUDE A MINIMUM WAGE

(CNN) – The wild west of ridesharing is getting reeled-in back east.

New York’s taxi and limousine commission voted in new regulations for Uber and Lyft Tuesday.

The new rules establish a $17 .22 per hour minimum wage for drivers.

They also set a “shared ride” bonus for carpool rides and establish an “out of town” rate to pay drivers for time spent returning to the city after trips that go outside its borders.

Both Uber and Lyft are against the new regulations.

They say the rules will result in higher fares and make drivers less willing to take passengers outside Manhattan.

The regulations are set to go into effect in 30 days.

Categories: Business

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