Wednesday, February 09, 2011

Obama Tries to Woo Business, Slams 'Burdensome' Tax

According to reports, the President increased his efforts to woo US businesses earlier this week in a speech promising to tackle the burdensome corporate tax code.


    Obama, on a drive to win over business and independent voters before the 2012 presidential election, also repeated a promise to advance trade deals with Panama and Colombia that would help U.S. companies, but he did not lay out a timetable for getting the pacts passed.

    Obama to Chamber: 'We can and must work together'

    "I understand the challenges you face. I understand you are under incredible pressure to cut costs and keep your margins up. I understand the significance of your obligations to your shareholders and the pressures that are created by quarterly reports. I get it," Obama told the powerful U.S. Chamber of Commerce, which has often opposed the president for what it sees as his "big government" agenda.

    Members of the Chamber, which the White House has accused of funding ad campaigns against Democrats during last year's congressional elections, listened politely but were mostly noncommittal in response to the president.

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