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President Obama to push for tax credits as part of small business assistance plan

In remarks scheduled for Tuesday, President Obama will push for tax credits and other items as part of a plan to help small businesses across the US.

By Associated Press / May 25, 2010

President Barack Obama addressing the graduates of the U.S. Military Academy in West Point, N.Y., Saturday, May 22, 2010. The President is expected to ask for tax credits from Congress as part of an aid package for US small businesses.

AP Photo/J. Scott Applewhite

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Washington, D.C.

President Barack Obama has invited small business owners to the White House to help persuade Congress to pass legislation to help them grow.

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The president is pushing a legislative package for small businesses. including giving them better access to loans and tax credits and assistance in refinancing mortgages.

Obama planned to promote his proposals in a speech Tuesday to a group of small business owners in the Rose Garden.

In prepared remarks the president says government can't create jobs but can "create the conditions for small businesses to grow and thrive and hire new workers."

He says small business owners should have easier access to capital and proposes eliminating the capital gains tax for investments in small businesses.