How New York City created the medallion crisis ...Middle East

Last Thursday, New York City Controller Scott Stringer stood shoulder-to-shoulder with members of the New York Taxi Workers Alliance to offer his support of their proposal for taxi medallion relief. The breakthrough plan that he supports would give medallion owners the option of refinancing at $125,000 with restructured financing over 20 years and 4% interest, meaning a monthly mortgage of about $157.

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