"There's a consensus that this is unworkable for small businesses and it's a new requirement that should be done away with," he said. "We need to look at the tax code and its effect on small businesses."
Doug Roberts, chief investment strategist with ChannelCapitalResearch.com, expressed skepticism that the Federal Reserve's "quantitative easing" buyouts, in which the Fed has purchased billions of dollars in Treasuries and other securities, will benefit small businesses and create jobs.
He said banks are still "skittish" to lend money despite the Fed's program, which is intended to decrease the cost of borrowing money and lower interest rates.
Instead, Roberts said the most important topic for small businesses the president should address is reducing payroll taxes. Roberts said this is especially important for small businesses, which he said create the majority of the jobs in the United States.
"One of the things he should focus on is a payroll tax holiday -- anything that decreases the cost of business and gives them the ability to hire, which is not something we're doing right now," Roberts said.