U.S. President Barack Obama is preparing to outline a $450 billion job creation plan to the American people in a nationally-televised address before a joint session of Congress .

Excerpts of the president's address were released a short time ago by the White House. Mr. Obama will urge an end to partisan politics in efforts to boost the economy, and say his plan is the kind of proposal that has been supported in the past by lawmakers of both his Democratic party and Republicans.

According to the excerpts, the plan will provide a tax break for companies that hire new workers and cut payroll taxes in half for all Americans who are already employed.

The president will urge lawmakers to pass his job creation plan immediately.

Recent figures showed job creation at a standstill, amid fears of a possible second recession.

The president is also expected to call for spending to fix the country's aging and crumbling roads, bridges and schools — projects that could also create jobs.

His plan is likely to meet with considerable opposition from Republican lawmakers, who are opposed to increased spending by the debt-ridden government.

In advance of the speech, some Republicans said the proposals represent a reprise of what they say are the president's failed economic policies.

The country's economy has virtually stalled, and federal figures show that no new jobs were created in August. About 14 million workers are unemployed and millions more are working part-time or in jobs they consider below their skill level.