A Cabinet Meeting Focused on Small Business

President Barack Obama holds a Cabinet meeting in the Cabinet Room of the White House, Jan. 31, 2012. (Official White House Photo by Lawrence Jackson)

Today, President Obama convened a meeting of his Cabinet to discuss the ideas he laid out in the State of the Union. Joining the meeting was a new member of that Cabinet -- Karen Mills, the head of the Small Business Administration.

The President elevated Mills to ensure that entrepreneurs always have a direct line to the Oval Office. He said:

I mentioned at the State of the Union that there have been discussions, bipartisan discussions between Republicans and Democrats, about a whole set of measures that can accelerate financing to startup companies; can provide tax breaks to startups and small businesses that are interested in either hiring more workers or increasing their wages; that looks at innovative ways for them to raise capital. 

And my expectation and hope is, is that they will get a bill together quickly, that they will pass it and get it on my desk. I will sign it right away, and I would like to see that bill signed this year.

Agriculture Secretary Tom Vilsack speaks during the Cabinet meeting in the Cabinet Room of the White House, Jan. 31, 2012. At right is Treasury Secretary Timothy Geithner. (Official White House Photo by Pete Souza)

The President also ran through what agencies like the Departments of Commerce, Energy, and Education are doing to help American businesses as well. He said:

[What] we want to do is to make sure that every single agency, even as they’re tending to their energy initiatives or providing homeland security or transportation or defense, that we’re also thinking about how are we advancing the cause of giving small businesses and entrepreneurs opportunities to start creating the next Google or the next Apple or the next innovative company that’s going to create jobs and improve our economy.

Read the full remarks.

Learn more

• Watch the 2012 Enhanced State of the Union
• Everything you need to know about the President's Blueprint for American Manufacturing