Obama says nation needs changes in tax laws

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WASHINGTON (AP) ? President Barack Obama is telling business leaders that the nation needs to reform its tax system to help the economy, saying the American people “instinctually understand” that the nation needs a balanced approach to solve its problems.

Obama was speaking Tuesday to more than 90 members of the Business Roundtable, an association of chief executive officers of top U.S. corporations.

The president told the business leaders the U.S. does not find itself in a similar situation as Greece, saying “we don’t have to cut by 25 percent and raise taxes by 25 percent.”

Obama calls the tax reforms “relatively modest adjustments that can stabilize our economy” and give businesses confidence it needs to invest. The president says the business community will have an “important voice” in the tax debate.