“Hardworking taxi medallion individual and owner-drivers entered this industry believing the city would run a fair system. Instead, many of these workers and small business owners were sent down a rabbit hole of financial ruin. After reviewing the proposal by the New York Taxi Workers Alliance, and understanding that the city’s chief financial officer, Comptroller Scott Stringer, has come out in support of this plan, I believe it is essential that we move forward on this relief package immediately to mitigate the harm already done. This proposal would provide a fiscally fair and responsible way to support the recovery of the taxi medallion industry by guaranteeing loans written down to no more than $125,000. This relief package not only lays out the best way to support the needs of a community that has been economically devastated but will help to ensure justice is finally delivered.”

– Letitia James, New York Attorney General

Source: Queens County Politics