The White House is indicating Obama will quickly veto it in private over Republican lawmakers' urging that he sign it. It would be the third veto of Obama's presidency.
Republicans may try to override Obama's veto, but have yet to show they can muster the two-thirds majority in both chambers that they would need.
First proposed in 2008, the pipeline would connect Canada's tar sands to Gulf Coast refineries.
The White House has said repeatedly it will wait to make its decision about whether to let the project go forward until after a State Department review.
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