U.S. jobs plan expected to cost $300B

President Barack Obama, whose popularity has fallen to new lows amid fears the American economy could be headed for another recession, will unveil a jobs package in a speech to Congress tonight. The plan is expected to total more than $300 billion, according to media reports.

In the speech, which will take place at 7 p.m., Obama will unveil a mix of measures. Here are elements likely to be part of the speech:

Extensions of payroll tax cuts. Extending a payroll tax cut for workers first enacted last December is the centerpiece of Obama's plan. Continuing the tax cut by another year would cost about $112 billion.

Infrastructure spending. Obama has said public-works projects, such as repairing highways and schools, would be one way of putting unemployed construction workers back on the job while upgrading the nation's infrastructure.

Tax breaks for businesses. Obama is likely to propose extending the payroll tax cut to employers as a means of boosting hiring. Another approach might be to reserve that tax cut for businesses that hire unemployed workers.

Extending unemployment aid. Congress has extended jobless aid several times to help people unemployed for more than six months. The extensions are due to lapse at the end of this year and Obama will call for their renewal.

Training for the long-term unemployed. Obama is expected to unveil a training program targeted toward those who have been unemployed six months or more.

Help for struggling homeowners. The administration has been working for weeks on a mortgage relief program to to help troubled borrowers.