PORTLAND - Dozens of cab drivers honked their horns in protest Thursday against a policy to expand the city's taxi fleet.

Mayor Sam Adams wants to add licensing for 132 new cars.

But drivers say they'll lose 35 percent of their current revenue to the new competition.

Cab Drivers Alliance spokesman Red Diamond cited a report from Adams earlier this year that showed taxi drivers in Portland earn a sub-standard average of $6.22 an hour, without benefits.Read the study

This will have a devastating effect on the ability of working cabdrivers to earn a living in Portland, Diamond said. It s an economic earthquake for us that will undermine the foundation of our industry.

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