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News Story of the Day

Obama seeks corporate tax rate cut, loophole limit


WASHINGTON - President Barack Obama rolled out a corporate tax overhaul plan Wednesday that lowers rates but also eliminates loopholes and subsidies cherished by the business world.

A long-shot for action in an election year, the plan nevertheless stamps Obama's imprint on one of the most high-profile issues of the presidential campaign.

The president's plan to lower the corporate tax rate to 28 percent came on the same day Republican presidential contender Mitt Romney called for a 20 percent across-the-board cut in personal income tax rates, underscoring the potency of taxes as a political issue, especially during a modest economic recovery.

Sports Story of the Day

Ishikawa rallies in Match Play


MARANA, Ariz. - One putt changed everything for Ryo Ishikawa and sent Riviera winner Bill Haas home early Wednesday in a riveting start to the Match Play Championship.

But the Japanese star holed his birdie putt, the match went back to all square when Haas missed his putt.

"Maybe more than myself, Bill felt pressure, especially since I am ranked lower and being the first match of the week," Ishikawa said.

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