Obama meets with Taylor Gourmet founders; urges Congress to pass small business tax cuts

President Obama hosted a roundtable discussion at Taylor Gourmet on U Street Wednesday in order to promote a set of policies that the administration says will help small companies create jobs.


President Obama holds up a hoagie he purchased after visiting Taylor Gourmet in Washington. Obama is urging Congress to act on his "To Do List," specifically highlighting the need to invest in small businesses. (Win McNamee/GETTY IMAGES)

NBC 4 reported that Obama asked the small business owners how they’re growing their companies: “Your stories obviously are being duplicated across the country,” he told them. “I’m very pleased to hear the SBA [Small Business Administration] had a useful role [for you].”

Afterward, the White House said the president will meet with Congressional leaders in order to urge them to pass the “Congressional To Do List” he unveiled last week.

Specifically, Obama has been pushing Congress to pass legislation that would give a 10 percent income tax credit to firms that create new jobs or increase wages in 2012. He also wants to extend a “100 percent expensing” provision that he signed into law in 2010, which allows firms to deduct the full value of investments through 2012.

The president claims his plan would help small businesses that add employees, as compared with the Republican plan passed by the House, which would give all businesses with fewer than 500 employees a 20 percent tax cut.

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