Cuomo calls taxi 'summit' over pickup service

NEW YORK

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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