Will President Obama’s “Congress To-Do List” of initiatives be passed this year?

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From December 2011 to February 2012, the national economy generated an average of 252,000 new jobs per month. Since then, only 96,000 new jobs have been added to the economy each month, on average.

Of further concern, more than 12.7 million Americans are unemployed and, to make matters worse, thousands upon thousands of jobless citizens are currently losing their unemployment benefits.

In response, the Obama administration proposed a “Congress To-Do List” last month to create more jobs at a faster, steadier pace and to foster a more secure financial future for America’s unemployed – and underemployed – citizens.

The “To-Do List” includes five initiatives, ranging from the development of a new hire tax credit for American-based small businesses to the establishment of a Veterans Job Corps.

First, the Administration has asked Congress to pass legislation which will, according to the White House, recompense all American organizations with a 20 percent tax credit if they choose to relocate their current business operations from overseas locations back to the United States. The tax credit will be utilized towards all costs of the relocation process, thus eliminating their incentives to operate abroad.

Second, the Administration has requested that Congress pass another form of legislation, which will offer a 10 percent income tax credit to all small businesses that either create new jobs or increase employee wages in 2012.

Finally, the Administration is also focused on passing a conservation program known as the Veterans Job Corps. According to Matt Compton, Deputy Director of Online Content, The White House, the program “will put up to 20,000 veterans to work over the next five years” while working “to restore habitats [and] maintain public lands,” among other responsibilities.

In less than 60 days, Congress will have its annual summer recess. Will any of these initiatives be passed beforehand? And, if so, how will they improve the national economy?

As President Obama prepares for this year’s upcoming election, his Administration will likely not only press Congress to pass each of these initiatives, but to also develop new legislation to generate a more secure economic future for all Americans.