Taxi drivers blocked Broadway in front of City Hall Thursday, to send a message. They want the city to support a new plan that would help medallion owners with loans drivers say are impossible to pay off and were predatory to begin with.

Taxi advocates say their plan will benefit all parties. If lenders agree to reduce loans to no more than $125,000, drivers will be more likely to keep paying. And if the city agrees to buy any loan that does default, for the same cost as what’s owed, lenders will have an incentive to do this.

“It’s the only way for us to survive, or we can’t. We’re all just so scared about our future,” Augustine Tang, a driver who owes over half a million dollars on a medallion, said he supports the plan.

Taxi advocates estimate it would cost the city $75 million. The mayor’s office wouldn't comment on the plan, but said any relief should come from the federal government.