In a written statement, Mr. Woloz called the TLC's actions "retaliatory" and hinted at possible legal action.

WSJ: Taxi Fare Increase Approved

"Thousands of individual owner-drivers and hundreds of small-business owners in both the taxi and livery industries are breathing a sigh of relief, " said Michael Woloz, a spokesman for the Metropolitan Taxicab Board of Trade, a plaintiff in the suit.

WSJ: Court Nixes Taxi Plan

Michael Woloz, a spokesman for the Metropolitan Taxicab Board of Trade, said the fleet owners who make up his organization do not begrudge drivers a raise but will suffer because of another measure, approved on a 5-4 vote, to eliminate a 5% charge that fleets and garages can currently levy on drivers for the cost of processing credit-card transactions.

WSJ: Taxi Fare Increase Approved