DC Taxi Heist: How a new law would spiral drivers and riders

Washington, DC is considering a bill that would require every cab driver in the city to own a special permit called a medallion. The total number of medallions would be capped at 4000, which would reduce the current number of cabs by more than one-third and put thousands of drivers out of business. (The city government has no idea how many licensed cabs are in the district, though estimates range from 6500 to 10000.) If that weren't bad enough, most drivers wouldn't have the option of buying a medallion. The first set of medallions would be offered for sale to the minority of cabbies who have been driving for at least five years and who live in Washington DC (Again the city government has no idea how many current drivers meet this criteria, but rising real estate prices and weak city services have led many drivers to leave the district.) Who will be offered the next set of medallions, according to the bill? That would be cab companies, who could then rent medallions to drivers. This system would destroy the relatively open-access taxi industry in DC, in which the majority of drivers are owner-operators free to make their own schedules and keep whatever money they earn on the job. In cities such as New York and Boston, drivers pay upwards of $800 a week to rent their medallions. Cab riders would also suffer under the new regime. Reducing the number of taxis on the street will make it harder to catch a cab, especially in non-tourist neighborhoods and areas far from business ...

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