The NYC Taxi & Limousine Commission (TLC) held a public hearing on Tuesday April 5, 2022 to discuss two sets of proposed rule packages: 1) Airport Flat Rate Fares Rule and 2) Financial Disclosure Rules. The TLC is proposing to increase the flat fare to and from Manhattan and John F. Kennedy Airport (JFK) Airport from $52 per trip to $65 per trip.
The TLC also proposes creating a $39 flat rate for trips between LaGuardia Airport (LGA) and Manhattan, south of West 110th Street and East 96th Street. For any persons who have an ownership interest in medallions, the TLC also proposed financial disclosure rules that would require an annual disclosure statement be filed with the TLC by taxicab medallion owners and directors, shareholders, officers, members or partners of a business entity that possesses any interest in a taxicab medallion.
At Tuesday’s hearing, the TLC accepted testimony on both proposed rule packages. The vast majority of drivers and stakeholders who spoke supported the flat rate increase at JFK; however, everyone who testified disagreed with the proposal for LGA. Several drivers proposed a higher flat rate for LGA, seeking a fare of at least $50 for trips to Manhattan. The New York Taxi Workers Alliance proposed that the TLC take a completely different approach to a raise for drivers at LGA.
Instead of freezing rates with a flat fare, the TLC should consider adding a surcharge of $5 for trips to and from Manhattan and LGA. Locking taxis into a flat rate at LGA would have a negative impact in the long run as Uber and Lyft could simply drop their fares at any time and eliminate competition.
With regard to the proposed financial disclosure rules, the TLC intends to prescribe a detailed procedure for compliance with the annual disclosure requirement. The proposed rule requires anyone with an interest in a one or more medallions to file an annual disclosure statement with the TLC on or before June 15th of each year. These disclosures will be reviewed and analyzed by the TLC Office of Financial Stability, a new division at created pursuant to Local Law 109 of 2020.
The Office of Financial Stability is required to monitor and evaluate the financial stability of the taxicab industry and making recommendations to improve the industry on an annual basis. The votes for the proposed rules will be done at a future TLC meeting. The Commission did not provide that date at today’s hearing.
Written By: Mathew Dause Esq. firstname.lastname@example.org