Obama is scheduled to deliver the speech Tuesday to Congress. No one in the administration has talked on the record about the specifics.
White House Press Secretary Jay Carney told reporters at Friday's briefing the president will address "the need to grow our economy in a way that rewards hard work and responsibility, that makes the middle class more secure."
The Wall Street Journal said Saturday the administration has been more forthcoming at meetings with supporters. One source, described as someone who participated in a briefing, told the Journal the president will discuss changes in business taxes and funding for roads and bridges.
Revenue from the tax changes would be dedicated to infrastructure, the Journal reported. Both an overhaul of business taxes and infrastructure repair are popular with business leaders, which could generate Republican support.
The Journal said Obama is once again likely to call for immigration reform, emphasizing it as a bi-partisan issue.
Carney said the speech is not aimed just to the House and Senate.
"They're physically in the room, but millions of Americans are tuning in and the president is speaking to every American," he said.