"President Obama on Monday [May 4, 2009] spelled out his proposals to close corporate tax loopholes on U.S. multinational corporations and crack down on overseas tax havens... Another pivotal player will be House Ways and Means Committee Chairman Charles Rangel, D-N.Y., who put forth a number of similar international tax reform proposals in 2007.  ‘I applaud President Obama's commitment to simplifying our tax code and look forward to working with the administration to close these loopholes,' Rangel said in a statement."Source:  CNNMoney.  (Read Full Post)