NYC taxi fares go up 50 cents Sunday

Beginning at midnight Sunday, a 50 cent surcharge will be added to yellow cab fares throughout the city, raising the base rate from $2.50 to $3.00.

The additional money from the surcharge will go toward plugging the Metropolitan Transportation Authority's budget gap.

Taxi drivers are wary of the new fare increase, saying that it is likely to turn away potential customers and hurt business.

However some commuters say they do not mind paying a little more if it will help improve service on buses and subways.

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