Taxi drivers held a rally outside City Hall Tuesday July 10, 2018 to promote legislation that would put new regulations on for hire ride services. The New York Taxi Workers Alliance is calling for regulations targeted to boost wages, the value of yellow taxi medallions, and to cap the number of for hire cars on the road.
Dan Rivoli explains in his article “fare-ness now!” published in the New York Daily News on Wednesday July 11, 2018 that taxi drivers have had economic hardships in the past years largely attributed to the rise and popularity of app based ride hailing services. Many people view the rise of app based for hire ride services as a major cause of the decline in the value of taxi medallions and the decrease in the income of drivers. The New York City Counsel has been debating the best legislative method for dealing with the issues facing for hire ride service drivers for several months. The solution to these issues is difficult to pin down due to the large number of variables influencing the reality. Congestion, existing drivers, caps on new drivers, and minimum wages are all aspects of the problem and must be addressed in the eventual solution.
How would you deal with the problems facing taxi drivers? What steps would you take to improve the financial health of this industry? Let us know in the comments section.
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