State urged to cut tax loopholes

California faces an estimated $14 billion budget deficit, but the state's independent fiscal watchdog has an answer - trim some of the tax loopholes that total $50 billion. Steve Geissinger in the Daily News.

Simple idea. Difficult to make happen.

That's because each of the hundreds of tax breaks are important to some interest group, political analysts said, and a few of those loopholes are perceived almost as a constitutional right.