Inouye: Tax Loopholes for Corporations Must End
U.S. Sen. Daniel K. Inouye says Congress must close tax loopholes used by big businesses to help control the nation's debt.
But, he said Democrats must also consider cuts to entitlement programs like Social Security and Medicare.
Hawaii's senior senator says he told Senate Majority Leader Harry Reid that he won't serve on the so-called "super committee" of six senators and six U.S. representatives tasked with finding ways to reduce deficit spending by another $1.5 trillion.
And, in response to reporters' questions, Inouye expressed confidence that federal funding for Honolulu rail would not be jeopardized by the fiscal crisis in Washington, D.C.