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Cab Fares Might Be 20 Percent More Expensive by July

NEW YORK - MARCH 10:  A woman is hailing a yellow cab on Lower Manhatten on March 10, 2010 in New York, New York. Yellow taxis have been playing their trade in New York since 1912, becoming an icon synonymous with the "Big Apple" immoratalised in countless films and TV shows  around the world.  (Photo by Jan Johannessen/Getty Images)

The Taxi and Limousine Commission agreed today to hear out a proposal that would raise taxi prices by as much as 20 percent, maybe as soon as mid-July. There will be a public hearing on May 31, which isn't a good sign for passengers, the Times notes: "Such hearings are almost never scheduled unless the taxi commission is seriously considering a fare increase." Commissioner David Yassky set our expectations even lower when he said in a statement, "The fare hasn't changed since 2006, so it is reasonable for taxi drivers and fleet owners to put this on the table." Under the new plan, a $45 ride to JFK airport would be $54, and a 2.76-mile ride for $11.82 jumps to $14.18, leaving the bike-share program looking better than ever.

Photo: Jan Johannessen/Getty Images