"This bill is ability for us to close a clear, costly loophole," he said as HB 3380 was being introduced.
The report says Congress should set clear standards, close loopholes and give the older power plants a strict timeline to upgrade.
It's not clear how much the loophole benefits each individual company, in terms of tax savings.
The second loophole was made clear by Sowers.
But more and more people are realising that good citizenship is more than just sticking to the exact letter of the law – that it's fine if you're wealthy enough to get accountants to find clever loopholes around the clear intentions of parliament.
Knowing that RankBrain and similar technologies are almost on par with a human, the rule of law is clear: There are no more loopholes.
It still has a gaping loophole: regulators have no clear legal authority to stop or undo a derivatives deal that has not been properly cleared and exchange-traded.
When the smoke cleared, Congress had fixed the real loophole, but also endorsed the idea of spying without court approval.
Mr. Obama didn't specify what kind of revenue package he was seeking, although the basic outlines have been clear for months: eliminating various corporate loopholes and deductions for some high-income taxpayers, such as the break on carried interest.
