On July 1, 2025, Mayor Eric Adams signed Intro. 1050 into law, a key piece of legislation aimed at easing financial burdens on New York City’s Taxi and Limousine Commission (TLC)-licensed drivers. The bill limits the amount of personal injury protection insurance required by the TLC to no more than 200 percent of the state-mandated minimum, aligning costs more closely with state law and preventing excessive insurance premiums. This change is expected to save drivers hundreds of dollars annually, allowing them to redirect funds toward essential living expenses such as rent, food, and healthcare. Mayor Adams and Commissioner David Do emphasized the city’s ongoing commitment to supporting working-class and immigrant communities who keep New York moving every day.
Transcript: Mayor Adams Signs Legislation to Put Money
Into Pockets of Taxi And For-Hire Vehicle Drivers
Mayor Eric Adams: We’re really excited about this bill. I want to thank the commissioner and his entire team seeing how important this is, particularly for our drivers that are under TLC control. When you think about it, these are men and women who get us to and from our destination. I don’t know what we would do without them.
And so today I am holding a hearing and bill signing on a bill that will put more money into the pockets of our hardworking TLC licensed drivers. It adds to the $30 billion that we put back in the pockets of everyday New Yorkers. They keep our city moving and they’re there when we need them. So we want to be there when they need us. They’re working class New Yorkers.
Many are immigrants building their life in the Big Apple and we’re going to keep them moving with this bill. And for too long our TLC licensed drivers have had to pay higher rates for no fault or personal injury insurance for their vehicles, burdening drivers and owners with thousands of dollars in costs and putting pressure on their monthly bills.
This is crushing for people who only want to pursue the American dream and has turned into a nightmare. And that nightmare ends today. Intro. 1050 prohibits the Taxi and Limousine Commission from requiring the vehicles it licensed to have personal injury protection, also known as no fault liability coverage, an amount greater than 200 percent of the amount required by state law.
And so with this bill, drivers will have more money in their pockets to pay the essential bills like groceries, rent, and medicine. Our working class drivers deserve their fair share and we are giving it to them with this piece of legislation. I want to thank the City Council and I want to thank the sponsor of the intro, 1050, and Councilmember Brooks-Powers as well. And now I want to turn it over to the public for any comments. None? Great, thank you. I’m going to turn it over to the commissioner.
Commissioner David Do, New York City Taxi and Limousine Commission: Thank you, Mr. Mayor. And I first want to thank the council as well. We were able to work closely with them to get this bill across the finish line. Councilmember De La Rosa was continuing to work to make sure we’re here and this is going to save our drivers hundreds of dollars every single year, which translates more into groceries, more into medicine, and other things that they need to keep New York City moving. And so I’m so excited to be here at this bill signing, mayor. Thank you so much.
July 1, 2025 New York City Hall, Manhattan
Sources: NYC.gov , Big New York news BigNY.com
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