Obama Asks Congress to Help Small Businesses

President Barack Obama is again urging Congress to send him a package of tax breaks and other incentives to help small businesses grow and create jobs.

The legislation would eliminate capital gains taxes for investments in such companies and encourage people to open businesses by offering tax relief to small startups.

Obama says his administration is constantly hearing from small businesses that want to keep the workers they have and hire more employees, but are having trouble getting credit.

Obama spoke at a White House Rose Garden event with small business owners, his second such event in recent weeks.

"Historically, small businesses have created roughly two out of every three new jobs in our country," Obama said. "To replace the millions of jobs lost in the recession, we need to make sure small companies are able to open up, expand, and add names to their payrolls."