Taxpayers cry foul over Yankees' money plan

The Yankees want public money to help build their new stadium, but some locals hope the plan strikes out in a big way.

The team, which has spent $1.3 billion so far, already has $941 million in tax-exempt public financing. The team also says it can complete the stadium without the extra funds. Residents are shocked at the prospect of giving the team taxpayer money.

"The Yankees should pay their own bills, not New Yorkers," says Bettina Damiani, of Good Jobs New York.

The Economic Development Corporation says talks are informal and it hasn't talked hard numbers with the team.

In order for the team to receive money, the city would need to hold public hearings.

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