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RESTART Act
3/12/2024, 5:27 AM
Summary of Bill S 1449
The RESTART Act aims to create a new loan program that would provide eligible businesses with funding to cover six months of payroll, benefits, and fixed operating expenses. This program would be available to businesses that have experienced a significant decline in revenue due to the pandemic and have not been able to access other forms of relief, such as the Paycheck Protection Program.
In addition to providing financial assistance, the RESTART Act also includes provisions to help businesses rehire and retain employees, as well as support for businesses that have had to close temporarily or reduce their operations. Overall, the RESTART Act is designed to help small and medium-sized businesses weather the economic challenges brought on by the COVID-19 pandemic and ensure that they are able to survive and thrive in the future.
Congressional Summary of S 1449
Revitalizing the Economy by Simplifying Timelines and Assuring Regulatory Transparency Act or the RESTART Act
This bill limits, accelerates timelines under, or otherwise modifies several environmental laws.
Specifically, it accelerates, coordinates, and limits the environmental review of federal actions under the National Environmental Policy Act of 1969. For example, it (1) establishes deadlines for completing any Environmental Assessment or Environmental Impact Statement (EIS), (2) directs agencies to prepare a single environmental document (e.g., EIS), and (3) limits judicial review.
The bill also prohibits agencies from using estimates for the social cost of greenhouse gases when taking agency actions if such use may increase the cost of energy or prolong the timeline for taking actions.
It also revises the Clean Air Act, including to allow existing facilities to make certain modifications without obtaining new permits under the New Source Review program.
The bill also revises the Clean Water Act, including to (1) provide statutory authority for the definition of waters of the United States in the 2020 navigable waters protection rule, and (2) limit the scope of water quality certifications.
It also modifies the underground injection control program to accelerate the review of state applications to obtain responsibility under the Safe Drinking Water Act for regulating Class VI wells, which are used to store captured carbon.
In addition, the bill accelerates the timelines for the consultation process under the Endangered Species Act of 1973.
Finally, the bill establishes requirements to expedite the completion of the Mountain Valley Pipeline.
