Uber, Lyft repeat threat to leave Twin Cities next month, despite lawmaker deal [CBS News]
Uber Technologies, Inc. (UBER)
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Source: CBS News
This comes after key lawmakers and DFL legislative leaders that they reached a compromise on statewide rideshare regulations in Minnesota. The amendment, which was heard in a House committee Tuesday, includes a minimum wage pay rate of $1.27 per mile and 49 cents per minute. That committee advanced the bill in an 8-4 vote. Leaders said they worked with the Minneapolis City Council on finding a compromise, but the companies were not included in the negotiations. The legislature currently moving forward reflects a lower rate than the Minneapolis council's proposal did, but higher than the study done by the Minnesota Department of Labor and Industry. The labor department study analyzed about 18 million rides to reach its conclusion that $0.89 mile and $0.49 for the Twin Cities metro rates would bring driver pay up to the city's minimum wage of $15.57 an hour. Representatives from both Uber and Lyft testified at Tuesday morning's hearing, confirming they'd leave if this becomes law
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