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The two ride-hailing companies would each face more than $392 million in annual payroll taxes and workers' compensation costs even if they drastically cut the number of drivers on their platforms, a Reuters calculation showed. The companies say they would need to significantly hike prices to offset at least some of those additional costs, which in turn would likely cause a decrease in consumer demand, but cushion the blow of the added costs to the bottom line.
Continue reading Uber and Lyft spend big in California to oppose gig worker law
Uber and Lyft spend big in California to oppose gig worker law originally appeared on
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Uber and Lyft spend big in California to oppose gig worker law
