US President Barack Obama is set to announce a jobs package worth more than $300 billion on Thursday in an effort to boost the struggling American economy and improve his chances for re-election. The plan will focus on tax cuts for middle-class households and businesses, as well as new spending on infrastructure projects. Obama will deliver a televised speech to Congress urging them to pass his "American Jobs Act" by the end of the year. If successful, the plan could provide a quick economic boost, but if it fails, Obama will shift blame to congressional Republicans for hindering progress. The White House Chief of Staff, Bill Daley, criticized Congress for their inaction on Thursday morning. He expressed frustration with their tendency to reject proposed measures without offering alternatives. Concerns about a potential recession have been raised due to disappointing jobs data. The Federal Reserve is exploring options to stimulate demand, and G7 finance ministers are anticipated to urge economically strong countries to do more to support growth during their meeting in France. President Obama is facing criticism for his perceived lack of strong leadership. Both Republicans and fellow Democrats have criticized his economic stewardship, which has raised doubts about his chances for re-election in November 2012. According to political scientist Terry Madonna, Obama is facing a critical leadership moment as voters decide if his presidency has failed. A recent poll showed that Obama is no longer the frontrunner for the next election. The White House stated that Obama will emphasize the challenges the US economy is facing and stress the need for Washington to assist in the recovery of the labor market as the 2012 election approaches. Last December, workers saw a renewal of payroll tax cuts and businesses were encouraged to hire through tax cuts, which are the major components of the jobs plan. Media reports have suggested that the package could cost over $300 billion. According to White House senior adviser Valerie Jarrett, President Obama will present the jobs proposals to Congress in legislative form next week. Jarrett explained that the purpose of Thursday's speech was to promote a sense of "shared responsibility" for the economic challenges, emphasizing that it is not solely the president's responsibility. The responsibility for addressing unemployment lies with Congress, the business community, and the American people, according to a statement. The White House's objective is to pass legislation this year to reduce unemployment by spring 2012. Obama is aiming for economic improvement by the middle of next year to enhance his chances for re-election. If Congress fails to act, the White House is ready to portray Republicans as hindering efforts to solve the unemployment issue. The intense battle in July over the country's debt levels, which resulted in a ratings downgrade by Standard & Poor's, highlighted a significant divide between Obama's Democrats and the Republicans who control the House of Representatives. The Republicans criticized the $800 billion economic stimulus package passed in 2009 as wasteful spending and are calling for immediate deficit cuts. On the other hand, Democrats argue that while long-term deficits should be reduced, the economy requires a short-term fiscal boost. The White House has indicated that the jobs package will be funded by future cuts, but has not provided specifics. Obama plans to urge the congressional "super committee" to exceed its goal of $1.2 trillion in budget savings, but will not present his recommendations until next week or later. House Republican leaders John Boehner and Eric Cantor have shown willingness to consider some infrastructure spending and a program proposed by Obama to train unemployed workers, as a gesture of reconciliation. However, Senate's top Republican Mitch McConnell criticized the president for accusing those who disagree with him of being overly partisan, calling it a political distraction. McConnell believes that opposition to the president's economic policies is not about politics, but rather because they are ineffective. He described Obama's plan as more focused on re-election than creating jobs.