Trump promises 'fully expedited' US permits for $1 billion-plus investors
President-elect Donald Trump has promised to fast-track permits for companies investing at least $1 billion in the United States. In a post on Truth Social, he said that these investments would get "fully expedited approvals and permits, including...all environmental approvals." The specifics of the proposal are unclear, but the announcement fits into his larger agenda of deregulating federal agencies and bringing in foreign investment in his second term.
Business leaders and environmentalists react to Trump's plan
The announcement also comes as the US Supreme Court hears arguments over a federal environmental review of a proposed oil railway in Utah. While some business leaders like Elon Musk have lauded the plan, environmental groups claim it violates the National Environmental Policy Act (NEPA). Evergreen Action's executive director Lena Moffitt slammed the plan as "obviously illegal" and accused Trump of putting corporate interests ahead of environmental concerns.
Trump's EPA appointment signals regulatory rollback
Trump has appointed Lee Zeldin to lead the Environmental Protection Agency (EPA), signaling his intent to reduce regulations deemed burdensome to businesses. The move is in line with his focus on rolling back Joe Biden-era policies related to climate change and energy standards. Trump intends to remove parts of Biden's regulations, including electric vehicle tax subsidies and new clean power plant standards aimed at phasing out coal and natural gas.
