Mayor Adams Signs Legislation to Put Money Into Pockets of Taxi and For-Hire Vehicle Drivers

July 1, 2025

Intro. 1050 Will Limit Amount of Personal Injury Insurance Coverage
TLC May Require for Licensed Vehicles

Announcement Builds on Adams Administration’s Work to
Put Money in Pockets of Working Families

NEW YORK – New York City Mayor Eric Adams today signed Intro. 1050 into law, limiting the amount of personal injury insurance coverage that the New York City Taxi and Limousine Commission (TLC) may require for licensed vehicles. This legislation will prohibit TLC from requiring the vehicles it licenses to have personal injury protection (also known as no-fault) liability coverage over 200 percent of the amount required by state law, putting more money back into the pockets of TLC-licensed drivers across New York City.

“TLC-licensed drivers keep our city moving,” said Mayor Adams. “Many of these working-class New Yorkers are immigrants trying to build a better life here in the Big Apple, but for too long, our TLC-Licensed drivers have had to pay higher rates for no fault or personal injury insurance for their vehicles, burdening drivers and owners with thousands of dollars in costs and putting pressure on their monthly bills. Today, we’re changing that — by signing this legislation, we are putting money back into the pockets of drivers, limiting the amount of liability coverage they can be required to have, so they can continue to spend their money on the essentials: bills, groceries, rent, and medicine. Our drivers deserve their fair share, and we are giving it to them. I want to thank our partners for their work on this important issue.”

Intro. 1050 — sponsored by New York City Councilmember Carmen De La Rosa — both keeps high personal injury protection (PIP) coverage in place, while increasing affordability. New Yorkers use for-hire vehicles more than any other city in America, and by rightsizing the required PIP coverage, both drivers and passengers will still have the highest PIP protections in the state, 200 percent of the amount required by state law, while also saving drivers money.

Today’s bill signing builds on the work Mayor Adams has done to support working-class New Yorkers. Since taking office, the Adams administration has worked to bring costs down and put money back into the pockets of working families. Mayor Adams successfully worked to propose and pass “Axe the Tax for the Working Class” to abolish New York City personal income taxes for more than 429,600 filers and their dependents, and lower taxes for over 152,500 additional New Yorkers and their dependents. The Adams administration has already saved New Yorkers more than $30 billion by connecting people to city, state, and federal programs, including a historic expansion of the New York City Earned Income Tax Credit, which delivered an average benefit of approximately $450 per household.

###