I think there are some reasons, laid out here, to be optimistic about the so-called "uber cap" bill, and that if the regulatory framework in the bill is effective, there won't be any cause to extend the cap beyond a year.
Essentially, the bill empowers the TLC to penalize Uber/Lyft if their cars spend a lot of time cruising around congested areas (e.g. Manhattan below 96th) with no passengers in the backseat. That should reduce congestion, and encourage operation in the outer boroughs.
Normally, you would say this sort of stuff should be left up to the market. The problem is that cars impose an externality, by slowing traffic. Congestion pricing would be a better solution. But this might work, too.
