The Washington Times reports:
Dozens of D.C. taxi drivers gathered in front of City Hall on Wednesday to angrily protest a bill that would introduce a medallion licensing system in the District.
There's more:
According to the bill, medallions will cost anywhere from $125 to $5,000 for individual drivers, based on the medallion class and driver’s length of time in the District.
Larry Frankel, chairman of the Dominion of Cab Drivers, said the “most absurdly written bill” would realistically cut the number of taxi drivers in half, by offering only 4,000 medallions in classes one through four to about 8,000 taxi drivers. He said similar systems have led to monopolization in other large U.S. cities.
The cartelization process restricts supply and raises prices. Only government can do that. As you can see, "regulation" and licensure is nothing but a scam.
