Union fires back after $65M relief for taxi medallion owners announced

NEW YORK (1010 WINS) – Mayor Bill de Blasio on Tuesday announced the city would launch a relief for taxi medallion owners and drivers to restructure medallion debt and offer payment support.

"This is a very sad story, and it's a story with a lot of injustice in it because lenders took advantage of these drivers," the mayor.

The new taxi medallion owner-driver relief program is a $65 million relief fund created through the federal stimulus to financially support struggling owner-drivers.

"Taxi drivers have been through so much, de Blasio said. "Especially, of course during the pandemic where the industry has been hit so hard and during that time.. taxi drivers stepped up and helped our community."

Under the new program, there will be provide money directly to drivers and help restructure the loans that they have.

"Many medallion owners are struggling and have asked for assistance from the city," Aloysee Heredia Jarmoszuk, commissioner of the Taxi and Limousine Commission said.

Up to $20,000 loans will be offered up front to restructure medallion debt and an additional $9,000 will be offered in debt payment support.

Owners can pay this money back over time at 0% interest based on their individual ability, Jarmoszuk explained.

The relief fund allows the city to step up to support owner-drivers, and Mayor de Blasio said lenders should do the same.

After the mayor's announcement, however, the New York Taxi Workers Alliance, said in a statement on Twitter that the relief fund does "absolutely nothing for us," and called it "a disgraceful betrayal from a city that already has blood on its hands."

A vast outreach campaign has been set up to maximize enrollment in the Paycheck Protection Program and owners advised to visit the Taxi and Limousine Commission's website to get get further assistance from the city's TLC resource center.

Medallion owners in need of assistance or interested in the program should email: mrp@tlc.nyc.gov