New Congestion Surcharge Hurts Taxi Passengers and Drivers: NYC Taxi Group President
*By Amanda Weston*
Catching a ride in New York just got more expensive, and passengers aren't the only ones complaining.
"It's a problem for the drivers," Aleksey Medvedovskiy, the president of NYC Taxi Group, told Cheddar Wednesday. "It's a problem for the general public."
As of [early February](https://abcnews.go.com/Business/judge-approves-congestion-pricing-york-city-taxi-uber/story?id=60778450), the new surcharge is $2.50 per fare for taxis and $2.75 for trips with ride hailing companies like Uber and Lyft.
The new fee applies to rides passing through central Manhattan, the site of significant traffic issues. Passengers are responsible for paying the surcharge ー but drivers don't share in any of the profit. The proceeds in their entirety will be directed to the MTA to improve public transportation.
Medvedovskiy said he's dubious about this method.
"I don't think congestion pricing will decrease the amount of traffic in Manhattan," Medvedovskiy said. "I think there should be other solutions, other alternatives besides charging $2.50 and $2.75 for a passenger and passing it off to the state."
While riders will be the ones shelling out the extra cash, Medvedovskiy said drivers are "100 percent" upset.
He added drivers already are forced to fight for passengers, who may now consider taxis a less attractive option, given the extra cost. But his biggest concern, Medvedovskiy said, is the lack of downtime for drivers.
"It's the cars sitting, not servicing the public," Medvedovskiy said. "The drivers don't want to drive because they don't make enough money."
For full interview [click here](https://cheddar.com/videos/nyc-taxi-drivers-speak-out-against-new-fee-for-customers).
LeBron James has agreed to an exclusive deal with Fanatics Collectibles. James and his son, Bronny, will appear together on a unique sports trading card to herald the Los Angeles Lakers superstar’s new multiyear partnership with Fanatics.
Joe Zhao, Managing Partner at Millennia Capital, joined Cheddar to discuss the latest stock moves and how the market is being impacted by artificial intelligence.
Wall Street was quiet early following a lackluster session a day earlier as markets await U.S. inflation data and high-profile corporate earnings reports later in the week.
The World Economic Forum says false and misleading information supercharged with cutting-edge artificial intelligence is the top immediate risk to the global economy.
CES 2024 starts this week in Las Vegas. It's set to feature swaths of the latest advances and gadgets across personal tech, transportation, health care, sustainability and more. Here's a list of the coolest announcements so far.
Astronauts will have to wait until next year before flying to the moon and another few years before landing on it. NASA on Tuesday announced the latest round of delays in its Artemis moon-landing program.
The Biden administration has enacted a new labor rule that aims to prevent the misclassification of workers as independent contractors. The labor department rule going into effect Tuesday replaces a scrapped Trump-era standard that lowered the bar for classifying employees as contractors
The KC-46 was to be the ideal candidate for a fixed-price development program. Instead, it has cost Boeing billions, and made industry wary of such deals.
Dave Long, CEO and Co-Founder of Orangetheory Fitness joins Cheddar to chat trends in the industry for 2024. He updates us on the company's plans to expand and what the state of the economy has meant for business.