Today, the @NYTWA started a 24-hr protest outside of City Hall for debt relief.
@JabariBrisport and I are here to stand with drivers in their struggle for dignity.
Come through-
@JabariBrisport and I are here to stand with drivers in their struggle for dignity.
Come through-
This is Richard Chow. He is 63 yrs old. He has driven a taxi for 16 yrs
He owes $389k to a hedge fund for his medallion. Before the pandemic, he had to pay $2,766/month
His brother Kenny was a taxi driver who committed suicide in 2018 bc of his debts. He owed $580k at the time
He owes $389k to a hedge fund for his medallion. Before the pandemic, he had to pay $2,766/month
His brother Kenny was a taxi driver who committed suicide in 2018 bc of his debts. He owed $580k at the time
This is Augustine Tang.
He is 37.
He has been driving a taxi for 5 years.
He owes $495,000 to the same hedge fund.
Before the pandemic, his mortgage payment was $2,851/month.
He is 37.
He has been driving a taxi for 5 years.
He owes $495,000 to the same hedge fund.
Before the pandemic, his mortgage payment was $2,851/month.
This is Victor Salazar.
He is 57 years old.
He has driven a taxi for 29 years.
He owes $278,000 to a private equity firm.
He missed his first mortgage payment in 17 years during the pandemic and, 3 months later, his lender seized his medallion.
He is 57 years old.
He has driven a taxi for 29 years.
He owes $278,000 to a private equity firm.
He missed his first mortgage payment in 17 years during the pandemic and, 3 months later, his lender seized his medallion.
This is Balkar Singh.
He is 62 years old.
He has driven a taxi for 31 years.
He owes $435,000 to a hedge fund.
His mortgage is $2,800/month.
He is terrified that they will try and take his home from him.
He is 62 years old.
He has driven a taxi for 31 years.
He owes $435,000 to a hedge fund.
His mortgage is $2,800/month.
He is terrified that they will try and take his home from him.
We went tonight bc what the City of NY has offered as a relief plan is completely insufficient.
It’s a $65 million plan that will give some drivers a payment of $20-30k to put towards their debt.
If you’re $200+k in debt, a $30k grant is not going to fundamentally alter that.
It’s a $65 million plan that will give some drivers a payment of $20-30k to put towards their debt.
If you’re $200+k in debt, a $30k grant is not going to fundamentally alter that.
The @NYTWA wants the City to create a loan guarantee - telling lenders that if they restructure a loan, the City will pay it off even in event of a default.
This would get lenders to write off 100s of thousands of $ in debt, cap the new loans at $175k & mortgage payments at $800
This would get lenders to write off 100s of thousands of $ in debt, cap the new loans at $175k & mortgage payments at $800
.@NYTWA’s plan has been vetted & approved by the @NYCComptroller and the @NewYorkStateAG.
It would only cost $93 million over 30 years.
And it would finally give the drivers the relief they deserve.
All that’s missing is the political will.
It would only cost $93 million over 30 years.
And it would finally give the drivers the relief they deserve.
All that’s missing is the political will.
So please come to Broadway & Murray St and stand with these drivers.
They’re out there 24 hours a day until they win this battle.
They’re out there 24 hours a day until they win this battle.
And we will win.
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