Senators clinch construction permitting deal before election jet-set
3 mins read

Senators clinch construction permitting deal before election jet-set

Senators on Wednesday clinched a long-awaited construction permitting deal just before the chamber is set to leave Washington until after November’s midterm election, setting up a race to deliver a top business priority in the coming lame-duck congressional session.

Read more Stellantis CEO reconfirms 2026 guidance, says turnaround plan continues as automaker’s shares hit new low

Lawmakers have long prioritized streamlining the nation’s complex web of federal permitting laws to speed the buildout of energy projects and other critical infrastructure. Permits are lengthy processes that often take years to complete — a problem as the U.S. seeks to build out more power capacity to feed electricity-hungry data centers.

The bipartisan deal, struck by Sens. Shelley Moore Capito, R-W.V., Sheldon Whitehouse, D-R.I, Mike Lee, R- Utah and Martin Heinrich, D-N.M., gets Congress significantly closer to passing permitting reform. It would ultimately benefit both traditional forms of fossil-based energy and clean energy sources, both of which can be bottlenecked by permitting snags.

Read more CNBC politics and policy coverage

  • Inside the China espionage case that ensnared former Fed advisor John Rogers
  • AI’s coming roadblock in regulation: Antitrust hawks
  • Trump holds up to $1 billion in bonds tied to institutions he can affect
  • Rep. James Comer expands House investigation into prediction market insider trading

The measure, dubbed the “Bipartisan American Affordability and Jobs Act” would also require data center developers to pay their own energy transmission costs.

The negotiators touted the deal as a way to both lower energy costs and build big infrastructure in a timely manner.

“If we can pass this bill, we will flood the grid with clean, affordable energy and make data centers start paying their fair share,” Whitehouse said in a statement with the release of the deal. “We believe it is a compromise that will result in a brighter, cleaner, more affordable future.”

Read more Elon Musk, Palmer Luckey and Newt Gingrich to help Pentagon with warfare initiative, Hegseth says

Capito said in a statement that “broken and outdated federal environmental review and permitting processes have stood in the way of energy reliability, secure jobs, modern infrastructure, and economic growth.”

“The bipartisan reforms we secured in this deal will transform our nation’s ability to power our economy and fuel future growth, while continuing to protect the land, water, and wildlife we all cherish,” she said.

The bill is now expected to be a top priority in the Senate during the lame-duck session that will follow the Nov. 3 election. Capito, during a press conference announcing the deal, said the negotiators are eyeing it to be the first vote they take when they return.

Sen. Chris Coons, D-Del., told CNBC earlier Wednesday that permitting reform and funding the government will be the top priorities for the senators upon their return.

“Appropriations, permitting. I think there will be a permitting bill ready for us to act on,” Coons said.

Read more MGM CEO leaves door open to People Inc. bid as casino dealmaking heats up

Leave a Reply

Your email address will not be published. Required fields are marked *