price

City Council Seeks to Raise Newsstand Price Cap, Product Quality

by Connor Ryan

flickr

Why is it impossible to buy a high-quality umbrella for more than $5 at a New York City newsstand?

According to a little-known regulation, no city newsstand may charge more than $5 for any given item. But City Council members proposed legislation on Monday that would raise the price cap to $10, saying that such an increase would allow for newsstand owners to sell more products of higher value.

Council speaker Christine Quinn said the increase in price limit would ultimately boost business for the city's over 300 newsstand owners.

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