*The Obama administration said on Thursday it will seek new limits on overseas tax avoidance by corporations in its forthcoming budget proposal, reprising an approach it has made before to try to raise government revenue via a tighter corporate tax code.

With the U.S. Congress gridlocked over fiscal policy, past efforts by Democratic President Barack Obama to crack down on what he sees as offshore corporate tax loopholes have largely failed. The latest measures could meet the same fate.

In its fiscal year 2015 budget, the administration will move to keep corporations from cutting their bills by playing one country’s tax rules for hybrid securities off against another’s, an administration official said on Thursday…* Cenk Uygur, John Iadarola (host, TYT University and Common Room), Ben Mankiewicz (co-host, What The Flick?! and TYT Sports), and Richard Eskow (Senior Fellow, Campaign For America’s Future) break it down on The Young Turks.

*Read more here from PATRICK TEMPLE-WEST / Reuters: http://www.reuters.com/article/2014/02/21/us-usa-tax-fatca-idUSBREA1J1O220140221