Sen. Carl Levin on Friday
revealed he is working with a senior Republican on a plan to close corporate
tax loopholes, aiming to find up to $100 billion for a sequestration-addressing
fiscal package.
The Michigan Democrat said he and
Sen. John McCain, R-Ariz., are examining ways to prevent firms from directing
billions in revenues to offshore tax havens, dollars the bipartisan duo
believes should be taxed by Washington.
-snip-
Some longtime
Washington budget analysts, like the Stimson Center’s Gordon Adams and Stan
Collender of the Capital Gains and Games blog, say there are too many political
and ideological hurdles to clear, making any kind of fiscal deal unlikely this year.
To read the full
story, click here.