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Small business report: 1/15

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  • Description

    Obama hopes to streamline government to help small business

  • Duration 1:34
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President Obama proposed making it easier for small businesses to work with the federal government.

He asked congress to get them fast track authority.

To propose consolidating six government agencies and then have congress approve or deny it in an up or down vote.

He wants to create something like a department of business and trade.

President's proposal would -- the Small Business Administration with the US trade representatives office the export import bank.

The Overseas Private Investment Corp.

At the US Trade and Development Agency in the Commerce Department plus other Commerce Department agencies.

The administration said the plan would cut 1000 to 2000 government jobs over time through attrition.

And save three billion dollars over ten years while making it easier for companies to interface with the government.

Would be authority that I am requesting today we could consolidate them all into one department -- one website one phone number.

One mission helping American businesses succeed.

But the president's plan would not put a serious dent in government payrolls since he took office the government has grown by nearly a 140000.

Jobs since January of 2009.

Republicans in congress that they would work with the president on his proposals but said he was coming late to the game on shrinking the size of government.

One senate Republican said it was an election year conversion.

That's it for this edition of the small business report at the White House I'm Peter Barnes Fox Business Network.

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