White House Council of Economic Advisers estimates: Permitting reform could add up to $164 billion annually to U.S. GDP.
The White House Council of Economic Advisers (CEA) released a report estimating that if the review time for Environmental Impact Statements (EIS) under the National Environmental Policy Act (NEPA) were shortened to two years, the U.S. long-term GDP could increase by 0.28% to 0.56% annually, equivalent to $82 billion to $164 billion. Additionally, tax revenues could increase by $14 billion to $28 billion annually, average household real wages could rise by $306 to $637 per year, and electricity bills and other expenses could decrease by $178 to $251 and $125 to $176 annually, respectively. If the review time were further reduced to one year, long-term GDP could increase by 0.41% to 0.83% annually, equivalent to $120 billion to $243 billion.
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