"Today the State Senate has passed legislation that marks an historic turning point for the riding public in New York City and solves a problem that has proven intractable for decades. Under the legislation and an agreed-upon chapter amendment, starting next year, transportation options for New Yorkers who live in the Bronx, Brooklyn, Queens, Staten Island and Upper Manhattan will improve dramatically. Instead of illegal, unsafe and risky options, they will be served by a new class of licensed and reliable cabs, whose drivers will earn a legal living. At the same time, the legislation protects the investment of medallion owners and the incomes of yellow taxi drivers. Yellow cabs will still have the exclusive right to the places where they do 97.5 percent of their business - central Manhattan and the airports. In addition to improving transportation for all New Yorkers, we will generate hundreds of millions in revenue for the City over the next several years, as well as much-needed new revenue for the MTA. Since proposing this plan in January, our Administration has engaged in ongoing conversations with all sections of the taxi industry, and we will use the additional time provided by the chapter amendment to make a good plan even better.

"I want to thank Senate Majority Leader Dean Skelos and Senator Martin Golden, who thoughtfully listened to all sides of this debate and passed a plan that has broad and popular support. I would also like to thank Senator Andrew Lanza, Chairman of the Cities Committee, for championing this legislation."