It will pass the House, may even pass the Senate since there are enough "at risk" Dems that could see it as a way to save their careers. It will be vetoed and of course their are not enough votes to override the veto.
The real question is is it just a political ploy to make the Repubs look good to the tea party faction, or is it really a line in the sand?
Personally, I think that it is just a waste of time and a meaningless gesture that will accomplish exactly nothing. It is probably happening too early to be used as a significant campaigning tool in the next election cycle for either side, although the downside for the Dems with this is probably greater than the upside for the Repubs. It does, however, give the public something to focus on other than the economy, but we see how well that gambit worked for the Dems in the last session.