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Obama looks to reorganize agencies

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President Barack Obama called on Congress to give him authority to streamline the executive branch and consolidate six agencies dealing with trade and commerce, Bloomberg reported.

The reorganization would affect the Office of the U.S. Trade Representative, the Export-Import Bank, the Overseas Private Investment Corporation, the Trade and Development Agency and the Small Business Administration. Ronald Reagan was the last president who held the power to reorganize agencies.

Under the authority Obama is seeking, Congress would be able to give an up-or-down vote on the plan in 90 days.