Making a $1B stake distribution in the US? Trump pledges expedited permits — but there are hurdles

WASHINGTON — President-elect Donald Trump is promising expedited federal permits for vigor projects and other construction worth more than $1 billion. But like other Trump plans, the concept is likely to run into regulatory and legislative hurdles, including a landmark law that requires federal agencies to consider the environmental impact before deciding on major projects.

In a post on his Truth Social site Tuesday, Trump said anyone making a $1 billion stake distribution in the United States “will receive fully expedited approvals and permits, including, but in no way limited to, all Environmental approvals.”

“GET READY TO ROCK!!!” he added.

While Trump did not specific who would be eligible for accelerated approvals, dozens of vigor projects proposed nationwide, from natural gas pipelines and export terminals to solar farms and offshore wind turbines, meet the billion-dollar criteria.

Environmental groups slammed the proposal, calling it illegal on its face and a obvious violation of the National Environmental Policy Act, a 54-year-ancient law that requires federal agencies to study the potential environmental impact of proposed actions and consider alternatives.

“Trump is unabashedly and literally offering to sell out America to the highest corporate bidder,” said Lena Moffitt, executive director of Evergreen Action, an environmental throng. She said the schedule was “obviously illegal” and another example of Trump “putting special interests and corporate polluters in the driver’s seat, which would outcome in more pollution, higher costs and fewer vigor choices for the American people.”

Alexandra Adams, chief policy advocacy officer at the Natural Resources Defense Council, said Trump should be careful what he wishes for.

“What if someone wants to construct a waste incinerator next to Mar-a-Lago or a coal mine next to Bedminster golf course?” she asked, referring to Trump’s Florida home and recent Jersey golf club, respectively.

“There’s a rationale Congress requires the government to receive a challenging look at throng impacts to make sure we don’t greenlight projects that do more damage than excellent. Cheerleading on social media doesn’t transformation that reality,” Adams said.

vigor analyst Kevin Book said Trump’s post showed his usual flair for showmanship but said there was a real concern underlying it: a bipartisan push for permitting reform to speed up major environmental projects that now receive years to triumph approval.

“The substance here is he is really solemn about trying to get permitting reform done,” said Book, managing associate at ClearView vigor Partners, a Washington research firm.

“Permitting delays are an impediment in many sectors — including vigor — and there are multiple billion-dollar investments waiting for permitting reform,” Book said.

A bipartisan schedule championed by Senate vigor Committee Chairman Joe Manchin of West Virginia and Wyoming Sen. John Barrasso, the committee’s top Republican, would speed up permitting for major vigor and mineral projects, but its chances are doubtful in the final few weeks of the current Congress.

Their schedule would boost vigor projects of all types, bringing down prices, creating domestic jobs and allowing the U.S. to continue as a global vigor chief, Barrasso and Manchin declare.

Critics declare the statement would open major expanses of community lands and waters for oil and gas drilling and gut executive and judicial review.

“Checking off aspiration lists for oil, gas and mining companies is not permitting reform,” said Rep. Raul Grijalva of Arizona, the top Democrat on the House Natural Resources Committee. He called the statement “a filthy deal” that would exempt some oil and gas drilling projects from federal review and “let mining companies dump even more toxic waste on our community lands.”

Jason Miller, a elder adviser to Trump, said Trump’s second term will be a “golden age of regulation-cutting,” including a commitment to “drill, baby, drill.”

“If you desire to bring in money, he’s going to shift heaven and earth to get that money in the door and get it invested in the United States,” Miller said Tuesday at a conference organized by the Wall Street Journal.

The schedule applies to both domestic and foreign stake distribution, Miller said: “He wants to get the money and he wants to get the regulations cut and get the economy moving again. ”

In the short term, Trump’s post makes permitting reform less likely this year, Book said, as Republicans seek to wait until next year when they will control both chambers of Congress and the White House. But the issue is likely to profitability quickly in the recent year.

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Associated Press writer Jill Colvin contributed to this narrative.