Obama proposes 'grand bargain' for jobs

Obama offers GOP simpler corporate tax code in exchange for jobs spending, Republicans resist

Associated Press
Obama proposes 'grand bargain' for jobs
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President Barack Obama reacts to a reporters question about the Palestinian and Israeli peace talks as he walks to board Marine One on the South Lawn of the White House in Washington, Tuesday, July 30, 2013, for Andrews Air Force Base, Md., prior to traveling to Chattanooga, Tenn. to speak about middle class policy speech at a Amazon fulfillment center. (AP Photo/Evan Vucci)

CHATTANOOGA, Tenn. (AP) -- President Barack Obama is offering Republicans something they've wanted for a long time, a simpler corporate tax code, in exchange for more spending on programs to create jobs for the middle class.

But Republicans are saying "no deal." They say the corporate and individual tax codes must be changed simultaneously to help certain small business owners.

Obama says money that comes from changing the tax system and closing loopholes can be spent on road and bridge-building projects to create construction jobs, or to help community colleges provide better skills training.

The president spoke at an Amazon.com warehouse in Chattanooga, Tenn., delivering his fourth speech on the economy and jobs in the past week. The online retailer said Monday it is adding 7,000 jobs in 13 states.

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