New York City considering limits on ride-share vehicles

The New York City Council is considering legislation that would limit the number of vehicles in the city operating for ride-sharing services such as Uber and Lyft.

If the legislation passes, New York would become the first major American city to place a cap on the ride-sharing vehicles, The New York Times reported Thursday.

The measure would stop the city from issuing new licenses for for-hire vehicles during a yearlong study of the industry.

{mosads}City Council speaker Cory Johnson has backed the legislation, the newspaper reported.

New York Mayor Bill de Blasio (D), who in 2015 attempted to cap the number of ride-sharing vehicles, did not fully endorse the proposal, but said it was time to put a check on the market.

Services like Uber and Lyft have faced scrutiny over their impact on cities and the taxi industry. There are currently more than 100,000 for-hire vehicles in New York City, up from roughly 63,000 in 2015, The Times reported.

London previously declined to renew Uber’s license to operate in the city, but agreed to reinstate it last month after the company agreed to face tougher regulations.