NYC taxi fares expected to increase by 23% by the end of this year | CNN Business

CNN Business  — 

The cost of a New York City taxi ride is expected to increase by nearly 23% by the end of 2022, marking the first taxi fare increase in a decade, according to a unanimous vote held Tuesday by the NYC Taxi and Limousine Commission.

Additionally, the base rate for New York City cabs is expected to rise from $2.50 to $3.00, while rush hour surcharges will increase from $1 to $2.50. Airport cab fares from John F. Kennedy International will spike from $52 to $70 and rides from LaGuardia Airport will include a $5 surcharge,

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