City bill will raise maximum price for newsstand products
New Yorkers could soon shop for pricier goodies at their local newsstand.
The City Council proposed a bill Monday that would increase the maximum price for selling individual products at newsstands from $5 to $10.
There are only 300 licensed newsstands in the city, and City Council Speaker Christine Quinn said the legislation would give owners an edge because they can sell more go-to items like earphones, umbrellas and cellphone batteries.
"We need to keep up with the times and help ensure these small business owners can continue to compete and succeed in our city," she said in a statement.
Councilwoman Karen Koslowitz will formally introduce the legislation May 22, and it will affect only the newsstands that the New York City Department of Consumer Affairs oversees.
Newspapers, periodicals, prepaid calling cards and MetroCards will be exempt from the price increase.
NYC Newsstand Operators Association counsel Robert Bookman welcomed the legislation because he said his members need all the help they can get to stay in business.
"There were once over 1,500 sidewalk newsstands in the city -- today there are about 300. We want to make sure we don't lose any more of them," he said in a statement.