Deal to Raise the Federal Debt Limit Includes Federal Permitting Reform and is Set for Consideration in the House Rules Committee Today and in the Full House Tomorrow
Over the weekend, President Biden and House Republicans announced a deal to suspend the federal debt limit through January 1, 2025 and cap federal non-defense spending through fiscal year 2025. The legislation, entitled the Fiscal Responsibility Act (H.R. 3746) would also include long-sought reforms to the National Environmental Policy Act to speed federal environmental reviews for all manner of construction projects. The bill includes a one-year deadline for producing environmental impact assessments and a two-year maximum for environmental impact statements for construction projects. It also expands Fast-41, an existing federal program that allows stakeholders to expedite federal permitting for infrastructure projects by helping to improve project coordination, transparency, and predictability.
The House Rules Committee is scheduled to consider the Fiscal Responsibility Act today, May 30, 2023 at 3 p.m. Barring any problems in the Rules Committee, the full House is scheduled to begin consideration of the bill tomorrow, May 31, 2023.
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