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NYC Taxi Drivers Hold 24/7 Protest to Demand Debt Relief from Purchase of Medallions

HeadlineOct 01, 2021

In labor news, today marks 13 days since dozens of New York taxi drivers began a round-the-clock protest outside City Hall demanding relief for thousands of drivers who’ve been devastated by massive debt — accrued largely due to the artificially inflated cost of taxi medallions. Data from 2019 shows medallion owner-drivers — who are mostly immigrants — owe nearly $500,000 on average, even though the market value for medallions has drastically collapsed. Drivers are also denouncing the mental health impacts triggered by the financial ruin. At least nine have died by suicide.

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