NYC Council Considers Bailout For Struggling Taxi Drivers

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TAXI in Ljubljana, Slovenia

Members of New York’s City Council are considering bailing out the city’s taxi drivers as ride-hailing services threaten to put them out of business, according to Bloomberg.

“I think about taking my life — I really do — and the only thing that stops me is my kids,” driver Mouhamadou Aliyu testified at City Hall, saying he bought a medallion in 2004 for $700,000 that is now worth $100,000.

Aliyu told council members he has $54,000 of debt and that he lacks the income to pay his medallion loan, cab lease and mortgage.

“If I lose my house I’m killing myself, period. Because my house is for my kids, my future, please help me,” he told the City Council, according to the publication.

Bhairavi Desai, who heads the Taxi Workers Alliance, told the City Council at least nine drivers have taken their own lives since late 2017 and called on members to put a $900 a month cap on medallion loan payments and appoint a task force to determine the worth of a taxi medallion and encourage lenders to forgive loans above that amount.

Read more at The Hill.

{Matzav.com}

1 COMMENT

  1. It costs the customer almost $6.00 to even step into the car, and more than half of that goes into the MTA's pocket

    “$2.50 initial charge.
    Plus 50 cents per 1/5 mile when traveling above 12mph or per 60 seconds in slow traffic or when the vehicle is stopped.
    Plus 50 cents MTA State Surcharge for all trips that end in New York City or Nassau, Suffolk, Westchester, Rockland, Dutchess, Orange or Putnam Counties.
    Plus 30 cents Improvement Surcharge.
    Plus 50 cents overnight surcharge 8pm to 6am.
    Plus $1.00 rush hour surcharge from 4pm to 8pm on weekdays, excluding holidays.
    Plus New York State Congestion Surcharge of $2.50 (Yellow Taxi) or $2.75 (Green Taxi and FHV) or 75 cents (any shared ride) for all trips that begin, end or pass through Manhattan south of 96th Street.”

    ^^^ Democrat taxes unaffordable people stay out of the city or don’t take cabs. PS the new minimum tax is 5.80 per ride

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