While Yankee officials are set to appear before a Congressional subcommittee this week to discuss land-valuation concerns, the IRS has paved the way for the team to wrap up the financing of their stadium construction. The Times reports that the IRS will allow the teams to float tax-exempt bonds. The politicians won’t like it, but the new rule should limit this practice of doling out money to rich entities in the future.
River Ave. Blues ยป IRS grandfathers tax-exempt bonds for NYC stadiums
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