Fare hikes could be on the way for New York City taxi riders.
The proposed changes would be the first increase to the taxi fare in 10 years, with passenger fares rising by about 23%.
If the fares are eventually increased, regulators say driver revenue would be raised by 33.3%.
"Our proposals to increase taxi fares and driver pay will ensure that drivers can cover their increased expenses while continuing to provide mobility options across the five boroughs, and I am looking forward to hearing from drivers and passengers at our upcoming public hearing," TLC Commissioner David Do said in an emailed statement to FOX Business on Thursday.
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Additional proposals include the base fare increasing from $2.50 to $3, and an additional unit charge rising by $0.20.