Livery cab drivers rally against 'Five Borough Taxi' plan

Hundreds of affected livery cab drivers and local leaders are rallying about their concerns regarding the city's proposed 'Five Borough Taxi' plan.

One of the biggest concerns is the proposal to add 6,000 yellow cabs to outer boroughs by auctioning off additional medallions, according several livery and taxi organizations. These medallions can sell for around $700,000.

Livery cab drivers say most are unable to afford the medallions. Many also say introducing yellow cabs would hurt the number of fares they typically pick up in the outer-boroughs.

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