Uber Technologies Inc. and Lyft Inc. are each on track to set records in their annual spending on Washington lobbying, as the two ride-hailing companies aim to influence policy makers on labor issues and other matters.<\/p>\n
Uber
Uber<\/a> and Lyft<\/a>\u2019s 2019 disclosures indicate they\u2019ve lobbied the most on a bill known as the NEW GIG Act<\/a>. The legislation\u2019s supporters say the bill would provide clarity on which workers are independent contractors rather than employees, as well as address related tax issues.<\/p>\n The bill, sponsored by Republican Sen. John Thune of South Dakota and Republican Rep. Tom Rice of South Carolina, covers an area that has been a big focus for Uber, Lyft and other on-demand companies. These companies on Tuesday submitted a California ballot initiative<\/a> that would change a new state law that aims to reclassify contract workers as full-time employees. The state law\u2019s author, Democratic Assemblywoman Lorena Gonzalez, has blasted the proposed ballot measure as \u201cdisingenuous<\/a>.\u201d<\/p>\n Opinion:<\/strong> Basic economics means Uber and Lyft can\u2019t rely on driverless cars to become profitable<\/a> <\/p>\n And see:<\/strong> The path to profitability for Uber and Lyft looks more like a dead end<\/a> <\/p>\n Other bills that have drawn lobbying in 2019 from Uber, which has a bike-sharing business, include a measure that would provide a tax benefit to bike commuters and a measure that would help union organizers. Besides the NEW GIG Act, the other bill that Lyft has disclosed lobbying on this year is Sami\u2019s Law, which seeks to improve signs on rideshare-app vehicles after a college student\u2019s fatal Uber mixup<\/a>.<\/p>\n Uber and Lyft didn\u2019t respond immediately to requests for comment. While their lobbying spending is rising, the sums involved fall well short of the outlays by bigger Washington players. Facebook Inc.
Read more<\/strong>: In the gig economy, men are most likely to turn to ride-sharing apps like Uber and Lyft after a job loss<\/a><\/p>\n And see:<\/strong> Lyft\u2019s stock falls even as ride-hailing giant bolsters outlook<\/a> <\/p>\n Shares in Uber, which has a market capitalization of about $57 billion, have fallen about 26% since the company\u2019s trading debut in May<\/a>, while shares in Lyft, which has a $13 billion market cap, have lost about 52% since their March debut<\/a>.<\/p>\n<\/p><\/div>\n [ad_2] [ad_1] Uber Technologies Inc. and Lyft Inc. are each on track to set records in their annual spending on Washington lobbying, as the two ride-hailing companies aim to influence policy makers on labor issues and other matters. Uber
UBER, +0.10%
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\n UBER, +0.10%<\/span><\/a><\/span>
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\n has disclosed shelling out $1.85 million in this year\u2019s first three quarters to lobby U.S. lawmakers and regulators, while Lyft
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\n LYFT, +2.82%<\/span><\/a><\/span>
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\n has spent $700,000 over the same period, according to an OpenSecrets.org analysis of disclosures filed through October. Each company\u2019s lobbying spending exceeds its outlay in 2018\u2019s first three quarters.<\/p>\n
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\n FB, -0.23%<\/span><\/a><\/span>
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\n alone, for example, has shelled out $12.3 million<\/a> in the year to date trying to influence lawmakers and regulators.<\/p>\n
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