THE BRONX - Thousands of livery cab drivers in The Bronx took to the streets today to protest Mayor Michael Bloomberg's controversial five-borough taxi plan.

Yellow cab owners and the City Council are looking to auction about 1,500 taxi medallions, which legally allow livery drivers to accept street hails. However, the drivers argue that at around $700,000 for the medallion, they can't afford to have that right.

The proposal has also ignited a battle with yellow cab drivers who have voiced concerns that the plan would threaten their right to take street hails. Bronx Borough President Ruben Diaz, Jr. says Bloomberg has called him in to discuss the plan and try to mediate the situation.

The Coalition for Taxi Equality and Justice released a statement in support of the plan saying, "The mayor's five-borough taxi plan ensures everyone will have the opportunity to hail a clean, legal taxi without haggling over prices."

Livery cab drivers rally against 'Five Borough Taxi' plan