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).
Cheddar News checks in on what to look out for on The Day Ahead as earnings season continues with TJX Cos., Target and Take Two Interactive among those reporting on Wednesday. April housing starts data is also set to be released while Netflix will hold its upfront presentation virtually amid a continued writers' strike.
Billy McFarland, who served four years in prison for the failed Fyre Festival in the Bahamas that saw investors lose millions, is back. McFarland joined Cheddar News to explain a new Fyre Festival he is planning along with a Broadway musical, both in the works.
Retail sales saw a modest uptick in April as inflation eased somewhat as consumers look toward the summer season to spend some more. Mario Payne, financial planner for Toams Financial, joined Cheddar News to provide some guidance on how to work up a responsible summer budget plan.
Dryden Pence, chief investment officer with Pence Capital, joined Cheddar News to discuss Tuesday's market session and touched on what the Federal Reserve may decide on at its next meeting as inflation continues to play a role and consumer spending remains firm.
Stellantis is telling owners of nearly 220,000 Jeep Cherokee SUVs worldwide to park them outdoors and away from other vehicles because the power liftgates can catch fire even when the engines are off.
After years of explosive growth during the pandemic, Home Depot’s revenue during the first quarter fell short of expectations and the company cut its profit and sales outlook for the year
