President Obama on Thursday night presented a new jobs plan he said is bipartisan and will stimulate the economy without adding to the deficit.

“I am sending this Congress a plan that you should pass right away,” said Obama. “It’s called the American Jobs Act. There should be nothing controversial about this piece of legislation."

“Everything in here is the kind of proposal that’s been supported by both Democrats and Republicans — including many who sit here tonight," Obama continued. "Everything in this bill will be paid for.”

The American Jobs Act will, according to the president, among other things, repair and modernize at least 35,000 schools, give extra tax credits for companies that hire veterans and the unemployed as well as kill cumbersome red tape. The plan would also extend unemployment insurance for another year. 

Obama used the phrase "pass this jobs" bill or plan over and over as he promoted the proposal.

"You should pass it immediately," he added to applause.