WASHINGTON (Reuters) - President Barack Obama will host a Summit executive chef Wednesday that his administration measures aimed to repair relations with large companies and gain support for its economic policies.
Meeting with 20 business leaders could also help build momentum to a compromise tax package he has worked with the resurgence of Republicans, but faces resistance in the ranks of his own Democrats.
Among the companies should be represented are Google (GOOG.O), Cisco Systems Inc. (CSCO.O), International Business Machines Corp. (IBM.N), American Express Co. (AXP.N), Dow Chemical Co. (DOW.N) and PepsiCo Inc. (PEP.N).
Since crushing defeat the Democrats in Congress last month's elections Obama sought to make amends with the companies after its links with businesses United States becomes tense on the concerns of companies on its review of health care, regulatory reform and high deficits of the United States.
The White House believed to expand a branch of Olivier companies help economy boosting confidence and encouraging companies to invest 2 trillion dollars in cash that they have kept on the sidelines.
"The biggest challenge facing that we face in moving forward is not competition between Democrats and Republicans, but to ensure that we are preparing the next generation to compete globally," said Jen Psaki White House spokesman.
"The session is an opportunity for the President to continue building strong partnerships in the business community toward this goal," she says. The Conference will be held at Blair House, adjacent to the White House.
The Summit agenda will include international trade, in addition to "take a serious approach to our federal deficits to medium and long-term, tax reform and a regulation that will be balanced approach promoting, rather than undermine, economic growth," said an official of the administration.
The business community has taken a particularly favourable view of the tax agreement Obama with Republicans earlier this week to extend the age Bush tax cuts. Proposed tax holiday pay is particularly popular with enterprises.
Liberal Democrats complained, however, that Obama made too many concessions in tax breaks for the rich.
Companies are complained for a long time about the structure of tax on corporations and say it is the globally competitive disadvantage. They were enthusiastic about the idea of reform, something Obama reported interest to tackle in the.
After the elections for Congress on November 2, Obama said he had to do a better job dealing with environmental matters. In the effort to repair fences Obama intends to make a speech to the American Chamber of commerce in January.
The White House and the House becomes bitter enemy during the election campaign on the House collecting aggressive funds to defeat Democrats.
(Additional by Caren Bohan;) (Editing by Vicki Allen)
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