#121: An Uber Bailout For Taxis

It’s no secret that ride-sharing companies like Uber and Lyft have disrupted the taxi industry. While many cities have embraced the fierce competition, others have simply banned ride-sharing outright. But Massachusetts is taking a novel approach — forcing companies like Uber to subsidize their taxi competitors. A new 20 cent tax on ridesharing trips includes 5 cents that goes directly to the taxi industry. If it sounds unfair, then why are both  the companies and Governor Baker (a Republican) supporting it? Should Uber subsidize taxis in other cities as well? What are the downsides? The Manhattan Institute’s Jared Meyer joins the show to discuss. For more, read his article in Forbes.