If Uber will guarantee that $50 million, Lightfoot might want to get on board
It’s time for Uber and the ride hailing industry to put its money where its mouth is — and Uber, much to our surprise, appears to be doing just that.
Uber officials told us Monday they’ve approached City Hall with another revised plan to tax ride hailing in a way that would generate an additional $50 million for city government. Mayor Lori Lightfoot has a separate plan she says would generate $40 million more in ride hailing taxes — $10 million less than Uber’s proposal.
Uber’s latest revisions also include what could be a game changer: The ride hailing giant is willing to guarantee its plan will generate the aforementioned $50 million in new money. If its plan falls short, it wants the city to compel it and other ride hailing companies, by law, to make up the difference.
Late Monday, Lightfoot’s office responded to our inquiry about the idea of a revenue guarantee. She wasn’t exactly on board.
Read more: https://chicago.suntimes.com/2019/11/18/20971453/uber-chicago-tax-lyft-share-tax-downtown-neighborhoods-south-west-sides