Today, October 17th at 12:00PM on the steps of City Hall, Council Member Ydanis Rodriguez, chair of the Council Transportation Committee held a press conference where he announced the introduction of a bill and ongoing efforts to ease the burden of declining taxi medallion values, and make the yellow taxi more competitive.
The bill would give medallion owners the flexibility to add an additional vehicle under their medallion. This measure will help medallion owners compete with the additional tens of thousands of non-yellow taxis expected to hit the city’s streets in the coming years.
With this bill, Council Member Rodriguez seeks to further the conversation about leveling the playing field for the iconic yellow taxis. The yellow taxi industry faces many regulations not extended to others providing similar service creating uneven regulation. For instance, yellow taxis are capped by the number of medallions available, while the increase in vehicles by others in the taxi industry is not. If the number of medallions available were to increase, it would require an environmental impact study while others can freely increase the number of their cars on the road without such study.
“I will continue strengthen my commitment to yellow taxis owners and ensuring they remain competitive against other taxi services expanding throughout the city,” said Council Member Ydanis Rodriguez. “Taxi medallion owners must always have a seat at the table when discussing the future of the industry. As the chair of the Transportation Committee, I will always make sure their voices are heard.”