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May 16, 2012 11:32 AM by Matt Stafford

Obama calls on Congress to help small businesses

WASHINGTON (AP) - President Barack Obama says Congress could help sustain the economy's "momentum" by passing legislation that would give businesses a 10 percent income tax credit if they create new jobs or increase wages this year.

Obama made his pitch during a roundtable discussion with small business leaders in Washington. The legislation is part of what Obama calls his "to-do" list for Congress. Obama says the action plan will help ensure that the economy doesn't "lose steam" at a time when people are starting to feel optimistic.

Later Wednesday, Obama will make another push for his initiatives in a White House meeting with bipartisan congressional leaders. The president's action plan centers on a series of economic initiatives he has been pushing for months, none of which have previously gained traction in Congress.

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