President Barack Obama will launch a multipronged push this week to garner support for his proposals to solve U.S. fiscal problems, meeting with business executives at the White House and visiting a small business in Pennsylvania to press his case, Reuters reported.
Obama has sought to go on the offensive since his re-election on Nov. 6 in the fight with Republicans over the "fiscal cliff," a combination of tax increases and spending cuts that would go into effect next year if the two sides do not reach a deal to stop it.
As part of that effort, the White House released a report on Monday showing the impact that middle-class tax increases would have on consumers and retailers. The report projects that if Congress fails to act and middle-income taxes rise, consumer spending growth could fall by 1.7 percentage points and economic growth overall would probably be reduced by 1.4 percentage points in 2013.
On Tuesday, a White House official said, the president will meet with a group of small business owners. On Wednesday, he will host an event with "middle-class Americans who would be impacted if Congress fails to act to extend the middle class tax cuts," the official said. He will also hold a meeting with business leaders, something he has done previously.
On Friday, he will visit a manufacturing facility of The Rodon Group, a small business that is a manufacturer for K'NEX Brands, a toy company whose products include Tinkertoys and Angry Bird Building Sets.
Gaining the support of the business community is a key part of Obama's strategy. Reinforcing that, the White House released an analysis by its National Economic Council that said millions of small business owners would suffer if middle-class taxes went up next year.