Medallions have always been regulated and restricted, not to benefit an asset owning class of rent seekers (that was a side effect), but to prevent the narrow, constricted island of Manhattan from choking on gridlock. Lyft and Uber essentially abused a loophole and caused traffic speeds to decline in the core.
Congestion pricing with a fee on all yellow & black car rides for origin and destination within CBD would be the best way other than a cap to regulate this, but that is still quite the political lift due to the windshield perspective of the city’s and state’s politicians.
Congestion pricing with a fee on all yellow & black car rides for origin and destination within CBD would be the best way other than a cap to regulate this, but that is still quite the political lift due to the windshield perspective of the city’s and state’s politicians.