The Taxi and Limousine Commission (TLC) just put forth a new proposal that would raise the cost of riding a New York City yellow taxi by roughly 23%.
Specifically, the base fare and surcharges for any ride would increase from $3.30 to $4.50. Driver pay would also go up by 29% and flat-fare trips from John F. Kennedy Airport to Manhattan would go from costing $52 to $65.
This would be the first hike for cabs in New York City in a decade. That's obviously a big deal.
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As part of the proposal, TLC also suggested increasing the minimum wage for Uber and Lyft drivers in the hopes of equally benefiting both yellow taxis and e-hail companies.
"Our proposals to increase taxi fares and driver pay will ensure that drivers can cover their increased expenses while continuing to provide mobility options across the five boroughs," said David Do, the TLC commissioner, in an official statement.
The TLC will hold a public meeting about the potential changes on October 6. After that, the updated guidelines will be put up for a vote. If approved, the hikes would go into effect within 30 days.
Of course, the potential implementation of congestion pricing may affect the matter as well. Back in August, news circulated about a new plan by which drivers entering Manhattan's "central business district" (defined as the area between 60th Street and Battery Park) would automatically be charged an electronic toll of up to $23 a day.
The news doesn't necessarily surprise us—just about any aspect of city living has dramatically increased in price in the last few years. We'll just have to take the subway even more often than we usually do.