The directive establishes "one Federal decision" for whether major infrastructure projects can proceed, sets a two-year goal for completing reviews and ensures that federal agencies involved in the permitting process are held accountable by setting up a "quarterly scorecard" of their progress.
The Obama-era risk-management standards "required that builders factor in scientific projections for increased flooding and ensure projects can withstand rising sea levels and stronger downpours", Reuters reported.
This is Trump's second executive order aimed at streamlining infrastructure projects.
In keeping with President Trump's campaign theme and promises, the White House said this latest Executive Order would curb or remove unnecessary red tape and a "fragmented, inefficient and unpredictable" system for environmental reviews.
PBS NewsHour will update this story as it develops.
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Multiple administrations have been concerned about how much delay federal permitting and environmental reviews can cause, especially for infrastructure projects. "We will rebuild our country with American workers, American iron, American aluminum, American steel".
Trump isn't proposing infrastructure investment. Asked whether infrastructure could be done this year given the items ahead of it, Cohn said, "We hope it's this year".
The president said the executive order was preceded by briefings regarding the nation's infrastructure agenda and discussions related to the delivery of world-class infrastructure for which the US previously was known. It stipulates that environmental reviews and authorizations by federal agencies for major infrastructure projects "should be reduced to not more than an average of approximately two years". The order was meant to reduce U.S. exposure to expected increases in sea level, droughts and floods over the coming century and was widely praised by green groups and many infrastructure experts.
Shortly after Trump signed the EO on Tuesday, API President Jack Gerard said the measure was an important step in shortening the federal permitting process, which the industry and Trump have both said are too long and an impediment to energy development and creating jobs.
"Eliminating this requirement is self-defeating; we can either build smarter now, or put taxpayers on the hook to pay exponentially more when it floods".
Trump also said that he is looking to speed up the approval process by implementing a "One Federal Decision policy" that would assign a lead federal agency to each major project.
The White House seeks to enforce the new order under threat of economic strangulation. He adds that courts will determine whether whether agencies' review analyses, under the Trump administration's expedited plan, comply with federal statutes. The main target is often the National Environmental Policy Act (NEPA) which requires the federal government to consider-not adopt just consider-less environmentally harmful alternatives.