US President Barack Obama is set to announce a jobs package valued at more than $300 billion on Thursday, in an effort to address the struggling American economy and boost his chances for re-election. The plan will focus on tax cuts for middle-class families and businesses, as well as increased spending on infrastructure projects like roads and bridges. Obama will deliver a televised speech to Congress urging them to pass the "American Jobs Act" by the end of the year, with the hope that it will provide a much-needed economic boost. If the plan fails, Obama's strategy will be to criticize congressional Republicans for hindering progress and blame them for the economic stagnation. On Thursday morning, White House Chief of Staff Bill Daley criticized the lack of action in Congress, urging them to do more than just reject everything proposed. Weak jobs data has raised concerns about a possible recession, leading the Federal Reserve to look into ways to stimulate demand. G7 finance ministers are meeting in France to discuss encouraging countries to do more to support growth. President Obama is facing pressure to prove his leadership abilities. His economic management has been criticized by members of both the Republican and Democratic parties, which is causing doubts about his chances for re-election in November 2012. Terry Madonna, a political scientist at Franklin and Marshall College in Pennsylvania, stated that this is a critical moment for Obama's leadership and that time is running out for voters to decide if his presidency has been successful. A recent poll showed that Obama is no longer the favorite to win next year. The White House has stated that Obama will emphasize the challenges facing the US economy and stress the importance of Washington's role in helping the job market recover, a message he will continue to promote as the 2012 election approaches. Last December, workers saw a renewal of payroll tax cuts and businesses were encouraged to hire through tax cuts, making them the main components of the jobs plan. The media has estimated that the package will cost $300 billion or more. According to White House senior adviser Valerie Jarrett, President Obama will present the jobs proposals to Congress in legislative form next week. The purpose of Thursday's speech was to emphasize the need for "shared responsibility" in addressing the economy's challenges, with Jarrett noting that it is not solely the president's responsibility. She stated that it is the responsibility of Congress, the business community, and the American people to engage in addressing the issue. The White House is aiming to pass legislation this year to reduce unemployment by spring 2012. In order to enhance his chances of being re-elected, Obama must be able to show economic progress by the middle of next year. If Congress fails to take action, the White House is ready to portray Republicans as hindering efforts to solve the unemployment issue. The contentious debate in July regarding the country's debt levels, which resulted in a ratings downgrade by Standard & Poor's, exposed a significant divide between Obama's Democrats and the Republicans who control the House of Representatives. Republicans have criticized the $800 billion economic stimulus package passed by Obama in 2009 as unnecessary spending and advocate for immediate deficit reduction. Democrats argue that while long-term deficits should be reduced, the economy requires a short-term fiscal boost. The White House has stated that the jobs package will be funded by future cuts, but has not provided specific details. Obama will urge the congressional "super committee" to surpass its $1.2 trillion budget savings target, 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 in Obama's jobs plan to assist unemployed workers as a gesture of reconciliation. However, Mitch McConnell, the leading Republican in the Senate, dismissed the president's accusations of partisanship and stated that opposition to Obama's economic policies is based on their ineffectiveness rather than politics. McConnell characterized Obama's plan as a strategy for re-election rather than job creation.