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December 5, 2018

CITY HALL VERSUS THE GIG ECONOMY: NYC sets first-of-its-kind minimum pay rate for Uber, Lyft drivers.

On Tuesday, the city’s Taxi and Limousine Commission voted on a minimum pay formula to protect ridehailing drivers from being underpaid by companies. Under the new policy, drivers will earn a minimum take-home wage of $17.22 per hour. That’s the ridehailing equivalent of a $15 minimum wage, accounting for the fact that those drivers have to pay payroll taxes and do not receive paid time off, the TLC said.

The move, which will go into effect in 30 days, is expected to raise the average driver’s pay by $9,600 per year, according to the proposal.

The minimum pay floor is a first for the US ridehail industry and could mean rides in New York will get pricier.

Ya think?

They should call this decision what it really is: The Taxi Cartel Protection Act.