CPC STATEMENT ON TAXI DRIVER MEDALLION DEBT FORGIVENESS 

**FOR IMMEDIATE RELEASE** 

Date: 10/28/21

Press Contacts: Carlyn Cowen, Chief Policy and Public Affairs Officer | 919-637-6866 | ccowen@cpc-nyc.org

CPC Statement on Taxi Driver Medallion Debt Forgiveness

New York, NY – The Chinese-American Planning Council, Inc. (CPC) stands in solidarity with the New York Taxi Workers Alliance (NYTWA) and its 21,000 members to urge the City to immediately add a city-backed guarantee to the Medallion Owner Debt Relief program. Taxi drivers and allies have been protesting outside of City Hall for 40 days and have been hunger striking for nine days. The City must take swift action to solve this crisis that has been years in the making and has devastated immigrant and low-income families across New York City. 

“New York City’s taxi drivers are Asian American, people of color, immigrant, and low-income, with 40% of medallion owners hailing from South Asia. We urge the City to adopt the NYTWA city-backed guarantee that would make these medallion payments manageable and help bring thousands of immigrant New Yorkers out of debt and poverty,” said Wayne Ho, President & CEO of the Chinese-American Planning Council (CPC).

The current City proposal leaves low-income drivers with a monthly medallion mortgage of $2,000, whereas the NYTWA plan for a City-backed guarantee would provide meaningful debt relief, reducing monthly payments to $800 maximum and guaranteeing the loan restructuring, protecting the driver’s wages and homes. We also urge the City to expand relief plans to drivers and families who are not covered under the current plan, yet are saddled with the same overburdening debt.

New York City taxi drivers are essential workers, providing crucial services through the pandemic and beyond, and generating $1.2 billion in funds for the MTA. It is critical that the City ensures dignity and economic security for these drivers and their families immediately.

Take action today by signing the petition and calling to urge debt relief. 

ABOUT CPC
The Chinese-American Planning Council (CPC) is a social services organization that creates positive social change. Founded in 1965, CPC is the nation's largest Asian American social services organization and aims to promote the social and economic empowerment of Chinese American, immigrant, and low-income communities of New York City. CPC is the trusted partner to individuals and families striving to achieve goals in their education, family, community, and career. 

關於華策會
華人策劃協會（簡稱“華策會”）是一個致力於創造正向社會變革的社會服務機構。華策會成立於1965年，是美國最大的亞裔美國人社會服務機構，旨在促進紐約市華裔美國人，移民，及低收入社區的社會權益和經濟賦權。華策會是為實現其教育，家庭，社區 及職業目標而努力的個人和家庭可信賴的機構。