WATCH LIVE: Obama proposes cutting corporate taxes

House Republicans quickly said they don't see much of a deal as long as the president does nothing to lower taxes on small businesses and families. 

Obama will announce his proposal in an address on the economy at an warehouse in Chattanooga, Tenn.

The president will offer to cut taxes on most corporations from 35 percent to 28 percent, with a preferred rate of 25 percent for manufacturers.

Read more at The Hill.