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Uber CEO calls for fees on ride-sharing apps to help taxis

Uber Chief Executive Officer Dara Khosrowshahi speaks on stage during the second annual Uber Elevate Summit, on May 9, 2018
Uber CEO Dara Khosrowshahi. Photo: Robyn Beck/AFP via Getty Images

Uber CEO Dara Khosrowshahi told the New York Post Monday that New York City should charge a fee on all ride-sharing apps to benefit taxi medallion owners in debt.

Why it matters: Taxi drivers in New York City are required to own medallions, a mandatory certification allowing a taxi driver to operate, which used to be so in demand that they worth as much as $1 million — before Uber and other ride-hailing apps existed. But now medallions, which ride-hailing services don't require, are far less valuable, putting several taxi drivers in debt.