Rangel helps Yankees seek tax breaks for stadium

Rep. Charles Rangel allegedly lobbied the Internal Revenue Service on
behalf of the New York Yankees for tax breaks saving the team up to $66
million on construction of th team’s new stadium. As the baseball team
seeks $350 million in tax-exempt bonds — following $942 in bonds
obtained in 2006 — the city wrote a letter to the IRS requesting the
exemptions, which was then reviewed by lawyers at the Yankees and sent
by Rangel, sources say. The IRS rejected the letter from Rangel and
requested one directly from the city in May, according to the mayor’s
office.