New York City taxis set to increase metered fares by double digits
NEW YORK -- Yellow cabs are about to cost you some more green.
The Taxi and Limousine Commission unanimously voted this week to approve a nearly 23% rate hike. It's the first increase in 10 years.
CBS2's Kevin Rincon heard from riders in Midtown.
"Maybe it's good for them, but it ain't good for me. I'm a regular working person," one Brooklyn man said.
For the first time in a long time, it will cost more to take a yellow cab in the city.
"I'm never happy about an increase, but I believe they probably deserve it," one cab rider said.
"With the price of gas, with the traffic, and the amount of time it takes to get around, I agree also," said another.
On Tuesday, the TLC unanimously voted to raise metered fares by 23%. A TLC representative says their data shows a supply and demand imbalance.
"If drivers were paid more, then there would be more financial incentive for drivers to get back on the road, for medallion owners to put their vehicles on the road, and for garages to get their vehicles back on the road," the representative said.
The hikes are expected to go into effect before the end of the year.
"It's going to be a headache," one person said.
"I appreciate having the ride when I need it. I know we have an inflationary environment, costs rising for everyone. Taxi drivers are no different," one cab rider said.
While cab riders are mixed on the rate hikes, cab drivers say it's a necessity to survive.
"We were desperately looking for this raise for so long," said cab driver Mouhamadou Aliyu. "It's overdue. Way, way overdue."
Aliyu has been a cabbie in New York City for 21 years.
"Now we will be able to go to work, go back home, being capable of putting food on the table," he said.
There is the concern that with cab drivers making more, costs could go up. It all depends on whether garages also raise the lease. Lease prices have gone up in recent years.
The TLC also voted to raise the nighttime surcharges, the cost of going to and from area airports.
The also voted to raise the hourly wages of Uber, Lyft, and other app-based drivers.