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Obama to detail job-creation proposal during city visit

President Barack Obama will tour a small business Friday morning in Baltimore and outline a new job-creation proposal, according to a White House official.

The stop is in addition to Obama's previously announced appearance before a group of House Republicans, who are holding a retreat at an Inner Harbor hotel.

The Baltimore business was not immediately identified.

Obama called jobs his "number-one focus in 2010" in his State of the Union speech on Wednesday night. He proposed taking $30 billion of TARP funds already repaid to the federal treasury by large financial institutions and giving that money to community banks for loans to small businesses.

He also said he would propose a new small-business tax credit and called for eliminating all capital gains taxes on small business investment. Obama said he would also propose additional tax incentives for businesses to invest in new plants and equipment.

Finally, he urged the Senate to pass a $60 billion jobs package previously approved by the House.

"People are out of work. They're hurting," Obama said. "They need our help, and I want a jobs bill on my desk without delay."

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