"Focused on jobs and investment"

Obama: business leaders optimistic will spend cash

President Barack Obama said that business leaders had signaled their willingness to dip into ample corporate cash piles to increase investment and US hiring.

"We focused on jobs and investment and they feel optimistic that, by working together, we can get some of the cash off the sidelines," Obama told reporters after he met with 20 top US business leaders.

The president was also asked about a bipartisan tax proposal that was passed earlier on Wednesday by the US Senate, but still needs approval from the House of Representatives. He said the House should act fast.

"I want them to (act) ... as soon as possible," Obama said.