President Barack Obama will propose a reduction in payroll taxes for small businesses tonight during his nationally televised address, Bloomberg reported.

The payroll tax reduction for employers will apply only to small businesses, according to administration talking points obtained by Bloomberg News. The president will also call for a payroll tax cut for employees, as well as aid for the long-term unemployed, funds for infrastructure spending and money for laid-off teachers and veterans, according to the document.

Obama will propose to pay for the additional spending by closing corporate tax loopholes and raising taxes on high-income earners. Next week, he’ll send a plan on how to offset the spending to the special 12-member congressional committee charged with coming up with $1.5 trillion in deficit cuts.

His address tonight will frame the government’s response as one of either action or delay on reviving the economy.

Obama is set to propose a more than $300 billion stimulus plan in the Republican-controlled House of Representatives’ chamber as job growth stalls and the unemployment rate hovers above 9 percent.

White House officials anticipate that congressional Republicans will resist much of the president’s jobs package, which also includes money to build roads and renovate schools, and direct aid to state and local governments to stem layoffs of teachers and emergency workers. They expect the tax cut proposals to have the best chance of passage.