00:00It's Benzinga, bringing Wall Street to Main Street.
00:02President Trump signed an executive order on Wednesday to streamline federal regulations
00:05for commercial rocket launches, according to CNBC. Trump's order directs the U.S.
00:09Transportation Secretary to eliminate or expedite environmental reviews for launch
00:13licenses and remove outdated or overly restrictive rules for launch and re-entry vehicles.
00:18It states that inefficient permitting processes hinder investment,
00:21innovation, and U.S. leadership in global space markets.
00:24The order states that complex regulations slow commercial space launches
00:27and favor established companies over new market entrants.
00:30Despite a public feud with Trump, Musk's SpaceX could benefit from the new order
00:33as it leads all U.S. space entities in launch frequency.
00:36Musk has said environmental reviews and mishap investigations
00:39have delayed testing of the company's Starship rocket in South Texas.
00:43For all things money, visit Benzinga.com.
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