From Sunlen Miller
President Obama this morning will honor multiple award-winning small business owners from around the country at an event in the Rose Garden.
The president is expected to urge Congress to create a new Small Business Lending fund, which he sent legislation to Congress on earlier this month.
"This legislation should ensure that credit worthy small business owners can get the capital they need to expand and create jobs," Obama will say, according to excerpts provided in advance by the White House. "It should include needed tax relief, like our proposal to completely eliminate capital gains taxes for those making key long-term investments in small businesses. It should include expansions of vital Small Business Administration loan programs that are needed now more than ever. And it should include two important lending initiatives that I recently sent to Congress."
The president will urge both chambers to act on these proposals as soon as possible.
Mr. Obama will then make a trip to Capitol Hill to address, behind closed doors, the Senate Republican Caucus about his legislative agenda.
Back at the White House, the president will meet with President Napolitano of Italy in the Oval Office privately.
Later in the afternoon, the president will travel to San Francisco, California, to attend fundraisers for Sen. Barbara Boxer and the Democratic Senatorial Campaign Committee.
The president will spend the night in San Francisco and will return to Washington, D.C., on Wednesday.