President Obama Takes on Cyber Security Threats

How the president wants to make sure a hack like Sony won't happen again.

In addition to cyber security, the president mentioned trade, tax reform and streamlining government as other areas of potential compromise with the new Republican-led Congress.

Among them is a measure to encourage the public and private sectors to better coordinate by sharing information about cyber threats and a federal standard for data breach reporting.

Congress will need to act on the proposals and require Republican support.

ABC News' Devin Dwyer contributed to this report.