Obama unveils plan to close tax loopholes and lower corporate rate

The Obama Administration unveiled a proposal Wednesday to lower the corporate tax rate, as an incentive to manufacturing and renewable energy companies. This would be balanced by closing dozens of loopholes and tax breaks, and according to the Treasury Department, would not add to the deficit. But some tax policy experts are concerned. They say that many corporations currently pay little or no taxes, and they will lobby hard in order to continue to do so. FSRN’s Alice Ollstein has more, in Washington, D.C.