NYC and Yankees Redfine Crookery

By dgrassi, Section MLB
Posted on Sun Aug 24 2008 at 9:46 PM EST
More on: MLB, Public financing, economy, taxes, IRS, Congress, politics (all tags)

It was revealed that NYC on behalf of the NY Yankees, is seeking relief from the Internal Revenue Service (IRS) to receive a special waiver from a law that the IRS amended in 2006 concerning the amount of tax-exempt bonds that may be allotted for the public financing of sports stadium facilities. And any net gains will come at the expense of taxpayers.

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