Congestion pricing supporters filed two new lawsuits Thursday seeking to overturn Gov. Kathy Hochul’s postponement of the tolls.
Governor Hochul has repeatedly said that addressing New York’s affordability crisis is at the top of her agenda and has emphasized her commitment to keeping money in New Yorkers’ pockets. Peer-to-peer (P2P) car sharing does exactly that. Yet a bill that would ensure the continued existence of the peer-to-peer car sharing industry in New York has sat unsigned on her desk for months. And as rent, grocery, and childcare costs continue to rise, an entrepreneurial source of income has become a lifeline for many families.
Peer-to-peer car sharing gives New Yorkers a way to earn supplemental income by allowing individuals to share their vehicles while also providing an accessible and convenient transportation option for those who need one. Teachers, firefighters, nurses, and other essential workers can earn meaningful income while they are on the job, instead of letting their cars sit unused in a driveway or parking lot. 
Meanwhile, the cost of car ownership in New York is among the highest in the nation. In the five boroughs, car owners spend an average of $6,000 per year on gas and insurance alone. Turo, the only peer-to-peer car sharing company currently operating in the state, has become an essential financial resource for New Yorkers both upstate and downstate.
The economic need for, and benefits of, peer-to-peer car sharing are clear. Survey results show that 56% of Turo hosts say their earnings help them cover monthly car payments. Another 40% report that the income allows them to afford or save for expenses they otherwise could not. And 36% use it to offset rising living costs. This is exactly the type of economic opportunity Governor Hochul should not only support but champion.
Legislation introduced by Senator James Skoufis and Assemblymember David Weprin ensures that insurance requirements for peer-to-peer car sharing fall within a fair and competitive range relative to those applied to New York’s rental car companies. This bill is not revolutionary. It is a common-sense policy. 
New York is the only state in the country that imposes such astronomical insurance mandates on an industry that has safely operated across the rest of the United States for more than a decade. Excessively high insurance requirements do not protect consumers. They suppress innovative business models that benefit them. We cannot afford to drive out a tax-paying business and make New York the only state in the country without a peer-to-peer car sharing industry.
In June, the legislation passed both chambers with broad bipartisan support. Governor Hochul now has until December 31 to sign this bill into law. At this point, only she has the authority to protect peer-to-peer car sharing in New York with the stroke of a pen. It is a win for everyone. But if Governor Hochul fails to sign it, she will be removing a vital source of income from veterans, single parents, entrepreneurs, small business owners, and essential workers from Buffalo to Brooklyn.
Protecting peer-to-peer car sharing does not cost New York a dime. In fact, it preserves tax revenue at a time when the state faces significant budget shortfalls. It also signals that New York welcomes the solution-driven companies needed to tackle our most pressing challenges. Rather than focusing on imposing additional burdens on businesses, Governor Hochul should prioritize retaining the tax-paying businesses that already call New York home.
As the year draws to a close, Governor Hochul has an opportunity to keep money in New Yorkers’ wallets and provide the policy certainty needed for peer-to-peer car sharing to continue contributing to New York’s economy.
Paul Zuber is Executive Vice President at The Business Council of New York State.
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