In response to the New York City Council passing new legislation today that targets the city's homesharing industry, Tech:NYC has issued the following statement:

“Today’s vote hurts New Yorkers who rely on Airbnb, while also leaving millions of dollars in tax revenue sitting on the table. Instead of working towards reasonable regulations that both protect affordable housing and legalize homesharing, these councilmembers have opted for punitive legislation that goes against New York’s reputation as a home for innovation.”

-Julie Samuels, Executive Director, Tech:NYC

Photo credit: New York City aerial view by Songquan Deng/Shutterstock