Mayor Adams: $225 million in taxi medallion debt erased

Mayor Eric Adams says $225 million was wiped off the books to ease the financial burden on taxi drivers.

"Recent years, the medallion owners and drivers have been burdened by crippling debt, and we did not want to sit on the sideline and watch this continue to happen. It's crushed dreams, and it crushed families," Adams said Friday.Drivers took advantage of the medallion relief program that restructures their loans so the debt is more affordable.

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