The Georgia Supreme Court became the latest court to reject a demand for a bailout by the taxi industry when it unanimously upheld a state law that permits ridesharing companies, like Uber and Lyft. The case centered on Atlanta’s taxi medallion system, which requires a medallion or “certificate of public necessity and convenience” (CPNC) to legally operate a cab.
More than two decades ago, Atlanta capped the number of taxis at 1,600. But demand outstripped supply, forcing medallion prices to soar, reaching as much as $80,000 in a secondary market in recent years. Those unable to afford their own medallion reportedly have to pay $500 a month to rent a CPNC.
But those peaks began to fall, thanks to greater competition from Uber and Lyft. In order to free ridesharing companies on the state level, and to preempt many local (and burdensome) ordinances, Georgia lawmakers overwhelmingly approved HB 225 back in 2015. Although the reform banned […]