A day after it was approved by the council, Minneapolis Mayor Jacob Frey has vetoed an ordinance that would set minimum pay requirements for rideshare drivers in the city.

Frey announced the veto Friday afternoon.

The two major rideshare companies have been threatening to end service in the city if Minneapolis enacts its rideshare pay ordinance.

“Mayor Frey is right to veto this legislation, and we urge the Council to uphold his veto at their next meeting. Otherwise, we risk no longer being able to offer our service within the city once the bill takes effect on May 1,” Lyft said Friday afternoon.

The council will have a chance to override Frey’s veto, which requires nine votes, the exact number the measure got on Thursday. Frey said he’s optimistic that at least one council member will change their mind and the council won’t override his veto.

However, because of the possibility of an override, Frey said he plans to call a special session next Thursday to give people and businesses “as much time to prepare” for Uber and Lyft possibly ending service in the city.

Minneapolis City Council voted 9-4 on Thursday to pass the ordinance after much discussion from council members, some of whom wanted to wait for a state report to come out. That report from the Minnesota Department of Labor and Industry was issued on Friday.

When discussing his veto, Frey said he hadn’t yet had a chance to review the report but urged council members to use it to craft a better ordinance instead of overriding his veto.

“It makes sense to wait until we know what we’re talking about. It seems like a simple thing to say, but not everybody is getting it,” Frey said, adding that the state report now gives the city “a better idea of what we’re talking about.”

Uber and Lyft, however, mostly disagreed with the report.

“The only part of this report that is grounded in reasonable data is its conclusion that Minnesota rideshare drivers earn more than $52 per hour of giving rides. The rest is nonsensical,” Lyft told 5 EYEWITNESS NEWS in a statement. “From the start, we have expressed grave concerns with the selection of James Parrot and Michael Reich as researchers for this study because of their long track record of error-filled analysis that has been repeatedly called into question by their academic peers. Only they could determine that a driver making $52 per hour was really only making $14 per hour after expenses, which in their view means drivers should actually earn over $67 per hour – or over six-times Minnesota’s minimum wage. This study is dishonest, counterproductive and a disservice to the goal of meaningful policymaking.”

“While the study is deeply flawed, it clearly recognizes that drivers are independent contractors. With the State and, most importantly, drivers agreeing that flexibility is critical, any compromise must prioritize independent contractor status,” an Uber spokesperson added. “It’s also now clear that the Minneapolis minimum wage proposal is off by a whopping 60%.”

The full council is scheduled to meet next on March 21. If members override Frey’s veto, the ordinance would go into effect on May 1.