Today, the U.S. House of Representatives is set to vote on a bill that would, among other things, open the door for the creation of thousands of new jobs, prevent a tax hike on American workers, and help reduce the crippling deficit. However, President Barack Obama has promised that he would bring the legislation to a halt with a veto—all because of his opposition the single measure in the bill that would create jobs.
What’s so offensive that would cause the President to level a veto threat? A provision in H.R. 3630, the “Middle Class Tax Relief and Job Creation Act of 2011,” that would provide for the approval of the Keystone XL pipeline project that would bring oil from Canada. Heritage’s Nicolas Loris explains that it would mean “access to easy imports from our northern neighbor, the creation of thousands of jobs, and the generation of revenue for the states where the pipeline passes. Montana, South Dakota, Kansas, Oklahoma, Nebraska, and Texas are collectively projected to collect $5.2 billion in property tax revenue as a result of building the pipeline.”
The Keystone XL measure is just one piece of the bill introduced by Representative Dave Camp (R-MI), along with several cosponsors. Though not perfect, it includes some positive measures that could bring comfort to the millions of Americans who are struggling under the Obama economy and are looking for hope this holiday season. Camp said of the bill, “With its passage, Americans can be confident that these programs and provisions will be available next year, that they will not result in decades of debt and that they will be paid for with fiscally responsible reforms, not job-killing tax hikes.”
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