Accelerating Energy Permits, Regulatory Relief, and Ending Clean Vehicle Tax Credits.
This bill aims to drastically speed up federal permitting for energy projects (oil, gas, renewables) by imposing a strict 60-day deadline on agencies for approval or denial. Citizens might see impacts on energy prices due to faster infrastructure development, but the law simultaneously shortens the tax credit availability for new electric vehicles, ending it in late 2024. Furthermore, it eliminates the need for Presidential permits for cross-border pipelines and codifies less restrictive environmental review rules.
Key points
Federal agencies must approve or deny energy authorization applications (including oil, gas, wind, solar) within 60 days, aiming to accelerate infrastructure projects.
The tax credit for purchasing clean vehicles (electric vehicles) will end early, on December 31, 2024, instead of 2032, potentially increasing consumer purchase costs.
Rescinds an environmental protection Executive Order and delegates authority to states for oil/gas permitting on federal lands.
Expired
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