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New York City Cabbies Rescued From Debt Crisis In 'New Dawn' For Iconic Taxis 

New York City cabbies, squashed by obligation following quite a while of shifty credit rehearses, will be protected under another arrangement reported by state authorities on Wednesday, a significant success for drivers in the midst of a days-in length hunger strike requesting help. 안전놀이터

City hall leader Bill de Blasio and Sen. Toss Schumer (D-N.Y.) declared the arrangement, saying they had agreed between the Taxi Workers Alliance and the city's biggest holder of taxi emblem advances, Marblegate Asset Management. All cabs in New York are needed to have a tin emblem darted to the hoods that approve them to get charges. 

Costs for the emblems, which are restricted in number, started to take off around 20 years prior, cresting above $1 million by 2014. Numerous cabbies assumed huge obligation to pay for them, regardless of whether they couldn't manage the cost of it. The emblem market fell sometime thereafter, and numerous drivers failed. Some kicked the bucket by self destruction, inciting examinations concerning market rehearses, yet not before drivers were burdened with excessively expensive reimbursements. 

The arrangement, which The New York Times noted could see the city spend more than $100 million in general, will diminish the sum every driver owes to $170,000 from a normal of about $500,000. Greatest month to month reimbursements will be $1,122 for every emblem, and the city will ensure the credits if a driver defaults. All drivers in the city are qualified for the program. 

Driver backing bunches commended the move as a work to secure the cabdrivers who assist with keeping New York's veins going nonstop. 

"Today denotes another first light, a fresh start for a labor force that has battled through such a lot of emergency and misfortune," Bhairavi Desai, the chief head of the New York Taxi Workers Alliance, said in an assertion. "Today, we can say proprietor drivers have won genuine obligation help and can start to get their lives back. Drivers will at this point don't be in danger of losing their homes, and at this point don't be held hostage to an obligation past their lifetime." 

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Authorities had reported one more arrangement in March to burn through $65 million to assist bail with excursion cabbies, yet the program was bludgeoned as being minuscule. 

The New York Times distributed an extensive series on the predicament looked by cabbies in 2019, which exhibited long periods of manipulative loaning rehearses that saw a few drivers take out the advances in the midst of guarantees the obligation was a wise speculation. 

Drivers started their craving strike over about fourteen days prior, setting up camp external City Hall and requesting more help. Schumer, whose father-in-law was a cabdriver in New York City, said he was "glad" to be essential for the arrangement that would end unnecessary degrees of obligation. 

"The emblem obligation emergency has continued for quite a long time, taking lives and occupations," Schumer said in an assertion Wednesday. "Together, we will carry this continuous circumstance to an only goal for the a great many cabbies who work each day to serve this City."