Rep. Kelly Armstrong, R-N.D., told Newsmax that reforms to the exercise of permitting oil and gas leases are critical parts of the new debt ceiling deal.
Joining "Carl Higbie FRONTLINE" on Monday, the lawmaker defended President Joe Biden and House Speaker Kevin McCarthy's deal to raise the debt ceiling, highlighting some of the less-discussed features.
"We control one-half of one-third of government, and I think when CBO [the Congressional Budget Office report] comes out tomorrow, ... I think we'll have a deficit reduction by $2.1 trillion," Armstrong stated.
However, the congressman said he was most excited about the easing of regulations surrounding the permit process to obtain oil and gas leases — a change he believes will speed up economic development in his state.
Biden and McCarthy's agreement would roll back to some of former President Donald Trump's National Environmental Policy Act reforms, specifically requiring that a permit be obtained from only one agency.
Armstrong said that so-called "shot clock" mandates, which give regulators a limited amount of time to address a permit request before the proposed development wins, are also in the deal.
"We are actually codifying what they did in the Trump administration, which is what helps us get the infrastructure on the ground," Armstrong emphasized.
His comments arrive as McCarthy and Biden's deal seeks to suspend the $31.4 trillion debt ceiling until Jan. 1, 2025, in exchange for capping non-defense discretionary spending at around $637 billion in 2024.
In addition, the deal includes a 3% increase in defense spending and the shifting of $10 billion of the newly allotted $80 billion for the Internal Revenue Service for the next two calendar years.
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