NYC approves 17% cab fare hike; JFK fare rises cross $50 mark

New York City’s Taxi and Limousine Commission voted Thursday to approve a fare hike that would increase the cost of a ride by 17 percent. TLC estimates that the average fare of $10.44 would rise to $12.21 after the increase is expected to go into effect in Sep.

The flat fee between Manhattan and Kennedy Airport would jump from $45 to $52 and the surcharge to/or from Newark Liberty International Airport would also rise from $15 to $17.50.

NY Taxi Workers Alliance: "Today was a historic day for the taxi drivers of New York City.  We now have a Health and Disability Fund, providing first-time benefits to a workforce that labors in dangerous and exhausting conditions.  Our incomes will end the downward spiral of poverty we have suffered for almost a decade.  We'll be able to earn a decent living.  All taxi companies will finally be under regulation, as we've been since the inception of the TLC, and the loopholes in existing regulations will be closed, ending eight long years of rampant lease overcharges.  And the great 5% credit card heist - we lose 5% on every transaction, including the tip, the toll and the tax when we don't choose the processor or get the system's advertising revenue - will finally end. "