Taxi driver Erhan Tuncel, 52, bought his yellow taxi medallion 14 years ago. Once he turns 62, he’ll have to either drive 150 seven-hour shifts per year, or sell the medallion at whatever the market rate is.
Thanks to the city’s “owner must drive” rule, he can’t lease out the medallion to other drivers, potentially robbing him of steady income in his golden years.
“I shouldn’t have to rely on my kids,” he said. “I want to be able to lease my medallion so me and my wife live happily ever after.”