Gross income for NYC taxi drivers is projected to increase by 33% for some, after the fare increases, which are expected to go into effect before the end of the year.
New York taxi cab fares are set to spike by nearly 23 percent by the end of the year, making it the first cab fare increase in New York City in nearly a decade.
Base fares for city cabs are expect to rise by about 50 cents from $2.50 to $3.00 and surcharges for rides during certain times of day like rush hour will increase from $1.00 to $2.50. The commission says drivers' gross income will increase by 33 percent covered by the fare increases which will also go into effect by the end of 2022, according to TLC.
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