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New York City’s Taxi drivers have been pushed into cruel and exploitative debt contracts by the City Government and Wall Street. On average, taxi medallion owners owe more than $500,000 dollars into debt. This means many medallion owners will be working to pay off this debt for the rest of their lives.
Despite making $855 million in profit from its scheme, the City has responded to demands for debt relief with a program that would allocate a paltry $65 million. This program fails to fundamentally address the crisis and will keep drivers trapped in hundreds of thousands of dollars of debt. The New York Taxi Workers Alliance (NYTWA) is calling for a guarantee from the City that will ensure that drivers’ payments are affordable and will write off millions of dollars of debt.
After abusive behavior on the part of City Government and relentless extraction from hedge funds, taxi drivers are taking a stand and demanding that the City provide adequate debt relief for drivers as soon as possible.
Join drivers who will be camping outside City Hall 24/7 until they get the relief package that they need. Most importantly, we need to show the City's Taxi and Limousine Commission how much support drivers have ahead of the proposed TLC vote on Wednesday morning.
Find the protest outside City Hall, on the corner of Broadway and Murray Street