Donald Trump promises fast-track permits for $1 Billion US investments: 'Get ready to rock!'

President elect Trump made the offer on Truth Social but questions loom over regulatory and environmental hurdles.

Donald Trump is promising a game-changing approach to fast-track regulations for companies investing $1 billion or more in the United States, signaling a commitment to clearing permitting obstacles. 

The announcement, made on his Truth Social platform, reflects Trump's aggressive push to bolster economic growth and streamline the approval process for major projects.

“Any person or company investing ONE BILLION DOLLARS, OR MORE, in the United States of America, will receive fully expedited approvals and permits, including, but in no way limited to, all Environmental approvals,” Trump wrote. He ended the statement with an emphatic: “GET READY TO ROCK!!!”

The statement, while ambitious, raises questions about how such fast-tracking would align with existing environmental laws and regulations, which often require lengthy reviews and are subject to frequent litigation. 

Trump offered no specific details on how his administration would navigate these legal complexities.

This policy shift comes as part of Trump's broader economic vision and follows President Joe Biden’s recent promotion of his economic agenda. It also arrives on the heels of a sweeping environmental rule from the Biden administration banning harmful chemicals like TCE and PCE, substances linked to severe health risks such as cancer and organ damage.

Trump’s transition team is reportedly working on proposals to expedite liquefied natural gas projects and expand drilling on federal and offshore lands. 

These efforts, sources indicate, could be rolled out immediately after his inauguration. The proposals align with Trump’s long-standing energy mantra, “drill, baby, drill,” which he recently reiterated when responding to unrelated political controversies.

“I’m going to focus on drill, baby, drill,” Trump declared, sidestepping questions about previous statements regarding the January 6 Committee.

The initiative is expected to include repeals of environmental regulations implemented during Biden’s presidency, many of which Trump has criticized for hampering energy development and stifling investment.

The Biden administration, for its part, acknowledged the need for more streamlined permitting processes but emphasized the importance of maintaining critical regulatory guardrails. 

Jared Bernstein, Biden’s economic advisor, addressed Trump’s post during a White House briefing: “We’ve had tremendous foreign direct investment, and yes, we’ve definitely tried to clean the brush out...but one thing I hear too often from him and them is without regard for any impact of some of the guardrails that are there for a reason.”

As Trump doubles down on promises to energize American business through bold deregulation, the political and environmental implications of his approach are sure to spark debate.