President Barack Obama said on Monday he wanted to lower the corporate tax rate and eliminate tax loopholes to pay for that, requesting support from the business community to achieve that goal.

Another barrier government can remove is a burdensome corporate tax code with one of the highest rates in the world, Obama said in a speech to the U.S. Chamber of Commerce business lobby group.

(Reporting by Caren Bohan, Alister Bull and Jeff Mason, Editing by Sandra Maler)