The taxi industry is promising there will be hail to pay if the city continues to let Uber drive down the value of medallions.
At a rally outside the Taxi and Limousine Commission Sunday, three dozen medallion owners blasted Mayor de Blasio and the TLC for failing to limit new licenses for e-hail companies.
Owners argued it was unfair that they spent their life savings on medallions while Uber has paid little and taken away their rides.
“We’re struggling to pay the mortgage; my dad had refinanced the house, took out $100,000, and now all that money’s going down the drain,” said Naveed Mohammad, 35, of Brighton Beach, whose father bought a medallion for $250,000 in 2004.
“The city allows Uber to come in without any rules and regulations to operate,” he said. “The medallion owners are fighting for their rights to make a living and basically have the American Dream.”
De Blasio had backed a bill to cap new licenses for Uber cars while the city does a transportation study.
But Uber lobbied to sideswipe the bill. City Council Speaker Melissa Mark-Viverito put the brakes on the cap when her members voiced concerns, and de Blasio retreated.
Administration officials are currently reviewing council proposals that would put limits on Uber’s surge fares.