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A new deal between New York City taxi drivers and the city is set to ease financial burdens on struggling cab drivers. Historically, taxis were intended for drivers to independently operate and profit, but the rise of ride-sharing services like Uber and Lyft has significantly impacted their earnings. Many drivers owe around $500,000 for their licenses. Recently, the New York Taxi Workers Alliance reached an agreement with Mayor Bill de Blasio to reduce these loans to a maximum of $170,000. The Alliance expressed relief, stating there will be “no more debt beyond our lifetime” and “no more risk of losing homes.” The video also prompts viewers to share their thoughts on the impact of ride-sharing apps on transportation in their cities.
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