Trump says companies that invest $1 billion will get quicker permits

Trump says companies that invest $1 billion will get quicker permits

Donald Trump wants to end birthright citizenship in the US

Donald Trump’s team is preparing an executive order to limit birthright citizenship, aimed at restricting automatic citizenship for those born in the US.

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Companies that spend large sums in the United States will be fast-tracked for environmental and other kinds of permits, President-elect Donald Trump said Tuesday.

Trump announced his plan in a social media post, saying any individual or company that invests $1 billion or more in the U.S. “will receive fully expedited approvals and permits, including, but in no way limited to, all Environmental approvals.”

“GET READY TO ROCK!!!” Trump added.

Trump campaigned on reviving American manufacturing. He has promised tariffs on goods produced overseas, including targeting some of the country’s major trading partners.

He argues the move could make U.S. companies more competitive and spur foreign companies to produce more goods in America. Tariffs could also drive up the cost of some products, though, contributing to inflation.

Now, Trump is proposing to mix the threat of tariffs with the lure of easing regulatory burdens.

Republicans have long raised concerns about overregulation, and one of Trump’s signature campaign promises was clearing the way for the energy industry in America.

But speeding up permitting could be met with opposition from groups worried about environmental impacts, public safety, health and other issues raised by some industries. And it’s unclear how much, and how quickly, Trump could overhaul longstanding permitting practices at federal agencies.

Trump’s proposal to incentivize American investments with faster permitting comes as he is poised to make sweeping changes to the federal government.

Trump’s new Department of Government Efficiency (DOGE) led by billionaire entrepreneurs Elon Musk and Vivek Ramaswamy is targeting government regulations and spending.

Musk praised Trump’s new proposal Tuesday, sharing his social media post on X and writing “This is awesome.” Musk’s companies, such as Tesla and SpaceX, are heavily regulated.

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Publish date : 2024-12-10 08:42:00

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