Yellow Cab Crisis Comes to a Head, Brooklyn Bridge Shut Down For Second Time in 6 Months

Senator Schumer and other politicians back medallion bail out plan. City Council candidate reveals family house maybe foreclosed upon due to medallion debt

We’ve been covering ongoing developments in the yellow cab industry and drivers’ push to get City approval for a proposed medallion debt relief program . Today the crisis reached an inflection point when NYTWA (New York Taxi Workers Alliance) members shut down the Brooklyn Bridge for the second time in the past 6 months with prominent and prospective politicians commenting and supporting the bailout plan (the Mayor was open to the idea but said the federal government would need to get involved). Notably, Felicia Singh, a teacher who is running for a City Council seat in Queens revealed that her parents house is in foreclosure due to her father’s inability to pay the loan on his medallion. Ms. Singh testified today at a City Council meeting as well. We should also note that the Crain’s NY editorial team recently published a scathing piece blaming Mayor De Blasio and City Council Speaker Corey Johnson for failing to do more for the yellow cab industry. We’ve attached some media clips below overviewing the story.

“We were in deep shock,” Singh told the Queens Post. “The way we [first] found out was someone rang the doorbell to ask for a listing price.” Bank trustees told her family on Friday that they had 86 days to come up with more than $100,000 or the house would be sold — leaving her parents, brother, sister and herself homeless, Singh said. - Astoria Post

Felicia Singh for City Council @FSingh_NYC

I am the daughter of a taxi driver. Due to our inability to pay our taxi medallion loan, my father had to file for bankruptcy. This past Friday, the bankruptcy court put a “For Sale” sign on our house. There is already an offer on our home, and the trustees are ready to sell.

February 9th 2021

5,524 Retweets24,567 Likes

Akin Geyrils @Geepapa2

In New York,taxi driver Union closed down Brooklyn bridge in protest over loan forgiveness. @nytimes @NYDailyNews @1010WINS @cnnbrk @NYGovCuomo @Deb

February 10th 2021

12 Retweets26 Likes

NY Taxi Workers @NYTWA

Cabbies have taken the Brooklyn Bridge and are sending an SOS to Congress for help with medallion debt relief.

February 10th 2021

88 Retweets185 Likes

NY Taxi Workers @NYTWA

Cabbies cheer upon hearing that @SenSchumer has pledged his support for debt relief for NYC’s struggling taxi drivers.

February 10th 2021

15 Retweets49 Likes

NY Taxi Workers @NYTWA

We aren’t asking for the moon. We’re asking for action to stop driver deaths by suicide and to stop bankruptcies destroying immigrant families in NYC.

February 10th 2021

53 Retweets208 Likes

Auto Marketplace NYC (fka TLCMKT) Newsletter is written by Dawood Mian, Founder & CEO of Auto Marketplace NYC. He covers the NYC for-hire transportation industry and related news. Search Auto Marketplace NYC for cars, parts, tires, mechanics, reviews & more. Find great deals at TLCMKT.COM