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Cuomo calls taxi 'summit' over pickup service

File of a New York City cab (AP Photo)

December 14, 2011 4:35:51 AM PST
Gov. Andrew Cuomo is calling a "summit" of taxi and government negotiators to resolve the longstanding dispute over whether to allow street hails of some livery cabs in residential areas.

If there is agreement Wednesday or soon on a bill passed months ago, the measure will result in the sale of taxi medallions worth $1 billion to New York City's municipal budget. Mayor Michael Bloomberg says he needs the revenue to help close a deficit.

Cuomo spokesman Josh Vlasto says Cuomo is working to reach consensus, but time is running out before the bill expires at the end of the year.

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