- Every two years, the TLC holds a hearing on fare and leasecap rates. On April 6, 10 a.m., we will use this opportunity to look at driver earnings across the board, including the For-Hire Vehicle (FHV) sector. Since 2014, the number of taxi and FHV drivers has grown and as of 2016, drivers use one TLC Driver License that allows them to operate in both sectors.
The TLC would like to hear if this growth and sector mobility has changed pay and costs for drivers, vehicle owners, and business owners. In particular, we would like to learn more about TLC-licensed driver earnings, including FHV drivers, and their relationship to passenger fares, vehicle leases, medallion leases, vehicle financing, insurance, fuel, and tolls and taxes. The TLC is also interested in learning more about base commissions, base affiliation fees, bonuses and incentives, and the ability of drivers to work in both taxi and FHV sectors.
We look forward to seeing you there and hearing your testimony.
- The City Council passed two bills on March 15, Intro Nos. 1474 and 1475, which remove outdated regulations in the medallion system. The legislation will make buying and selling a medallion more like the sale of other transferable TLC licenses, such as base licenses and green taxi permits. For example, the transfer tax on sale will be .5%, instead of 5% of the purchase price.
Additionally, this legislation eliminates the separate categories of corporate and independent medallions. After enactment, there will no longer be any limit on the number of medallions any person or entity can own. We expect the Mayor to sign these bills into law on March 21st.
- Last month, New Yorkers were hoping for an early spring, but instead got winter storm Stella. We are grateful that TLC-licensed drivers prioritized safety during the extreme weather and took extra care when driving. To drivers that stayed home, thanks on behalf of our Sanitation Department. Every car that is not on the road makes it easier for our Sanitation colleagues to keep the roads clear.
Until next time……drive like your family lives here!
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