In his "grand bargain" speech on Tuesday in Tennessee, President Barack Obama unveiled his "Fix It First" plan to close tax loopholes and cut the corporate tax rate. Obama said the money that would come from tax reform could fund infrastructure projects, enhance community college education and promote manufacturing -- all with the aim of creating jobs. Republicans were not impressed. "All I can say is what he said today really doesn’t make much sense," said Sen. Orrin Hatch, R-Utah, and a member of the Senate Finance Committee.

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