💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

REFILE-Obama pushes healthcare to business lobby critics

Published 10/29/2009, 03:51 PM

* White House wants to focus on helping small business

* Seeking common ground on healthcare reform (Refiles to add dropped word "insurance" in third to last paragraph)

By Patricia Zengerle

WASHINGTON, Oct 29 (Reuters) - President Barack Obama broadened his pitch for healthcare reform on Thursday with an appeal to business leaders, some of whom have criticized his efforts to overhaul the multibillion-dollar industry.

He spoke to a crowd that included owners of small businesses and officials from the U.S. Chamber of Commerce, a powerful business lobbying group that has opposed him on issues including healthcare, taxes and climate change.

The White House said the event was an opportunity for Obama to meet small business owners to discuss his healthcare overhaul and his proposals to improve small business access to credit to boost job creation.

Obama noted that the U.S. economy grew 3.5 percent in the third quarter, after four consecutive quarters of decline, but said the economy still has a long way to go and acknowledged the problems that businesses have had.

"But I don't have to tell all of you that it's been particularly difficult over the past few years," he said.

However, if the United States is serious about strengthening small business, it must pass health insurance reform, Obama said.

"Few have a bigger stake in what happens than all of you. Few have a bigger stake than the men and women who own a small business, work at a small business, or rely on someone who does," he said.

Obama has made healthcare reform his top domestic priority and has vowed to get it through the U.S. Congress before the end of the year.

OBAMA SAYS PREMIUMS COULD DROP

He disputed arguments that reform plans would increase costs for small businesses, and said premiums could drop by 25 percent.

The audience included about 50 business owners who were members of the Chamber of Commerce and several executives from the chamber's office in Washington, a spokesman for the lobbying group said.

Obama pulled no punches earlier this month when he attacked the chamber for opposing his plans for a new consumer protection agency, saying it was spending millions of dollars on false advertising "to kill it."

He said the chamber had spent nearly half a billion dollars on lobbying over the last 10 years.

The chamber, which says it represents 3 million large and small businesses, opposes the administration's push for climate legislation and has not supported Obama's efforts to revamp financial regulation.

It has also launched television commercials on cable television to fight the so-called "public option" -- a government-run healthcare insurance program that some companies say will drive up costs for employers and workers.

However, the group said it is working with the administration on several matters. "We do have a laundry list of issues that we work with them on toward job creation," said a chamber spokesman. "There's pretty regular interactions between the groups."

A senior adviser to Obama, Valerie Jarrett, told Reuters last week the White House wanted to work with the chamber but that it had a broader view of who spoke for the business community. (Editing by Chris Wilson)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.