Treasury
3-MO 3.83% +1bp 6-MO 3.98% unch 1-YR 4.08% +4bp 2-YR 4.28% +5bp 3-YR 4.34% +4bp 5-YR 4.45% +7bp 7-YR 4.59% +7bp 10-YR 4.75% +7bp 20-YR 5.28% +6bp 30-YR 5.27% +6bp 3-MO 3.83% +1bp 6-MO 3.98% unch 1-YR 4.08% +4bp 2-YR 4.28% +5bp 3-YR 4.34% +4bp 5-YR 4.45% +7bp 7-YR 4.59% +7bp 10-YR 4.75% +7bp 20-YR 5.28% +6bp 30-YR 5.27% +6bp 3-MO 3.83% +1bp 6-MO 3.98% unch 1-YR 4.08% +4bp 2-YR 4.28% +5bp 3-YR 4.34% +4bp 5-YR 4.45% +7bp 7-YR 4.59% +7bp 10-YR 4.75% +7bp 20-YR 5.28% +6bp 30-YR 5.27% +6bp 3-MO 3.83% +1bp 6-MO 3.98% unch 1-YR 4.08% +4bp 2-YR 4.28% +5bp 3-YR 4.34% +4bp 5-YR 4.45% +7bp 7-YR 4.59% +7bp 10-YR 4.75% +7bp 20-YR 5.28% +6bp 30-YR 5.27% +6bp 3-MO 3.83% +1bp 6-MO 3.98% unch 1-YR 4.08% +4bp 2-YR 4.28% +5bp 3-YR 4.34% +4bp 5-YR 4.45% +7bp 7-YR 4.59% +7bp 10-YR 4.75% +7bp 20-YR 5.28% +6bp 30-YR 5.27% +6bp 3-MO 3.83% +1bp 6-MO 3.98% unch 1-YR 4.08% +4bp 2-YR 4.28% +5bp 3-YR 4.34% +4bp 5-YR 4.45% +7bp 7-YR 4.59% +7bp 10-YR 4.75% +7bp 20-YR 5.28% +6bp 30-YR 5.27% +6bp
US Treasury par yield curve · Jul 31 · Source: U.S. Treasury
Sunday, August 2, 2026
U.S. Edition
Proposed 2027 CGP

The EPA has proposed the construction stormwater permit that replaces the one expiring in February, and the whole national saving it puts on the change is $25,383 a year

A close photograph of a dense mat of dry plant fibre filling the whole frame. Thousands of narrow reddish brown and tan stalks and split blades lie crossed at every angle, many of them split lengthwise and pale along the broken edges, with a few darker green blades and small gaps of soil showing through. The light is flat and even and nothing is in focus beyond the surface itself. No text, markings, brand marks, people, tools or structures are in view. A generic ground cover close-up, not a photograph of any site, company or document.
Photo: Jonathan Borba / Pexels

Every construction site of an acre or more in New Hampshire, Massachusetts, New Mexico and most of Indian country works under one federal permit, and the EPA filed the replacement for it on Friday morning.

The proposed 2027 Construction General Permit would take over from the 2022 permit, which expires on 17 February 2027, and would run five years. All ten EPA regions signed it. Comments are open for 30 days once the notice publishes, which the filing sets for Monday.

The Supreme Court part

The largest legal change in the document has nothing to do with construction.

In March 2025 the Supreme Court held in City and County of San Francisco v. EPA that the Clean Water Act does not authorise what it called end result permit conditions, meaning conditions that make a permittee answerable for the state of the receiving water rather than telling the permittee what to do. The 2022 permit contains a line of that kind, requiring discharges to be controlled as necessary to meet applicable water quality standards. The proposal deletes it and substitutes a set of specific narrative limits written as indicators of a water quality problem in the discharge.

Those indicators are not new. The EPA wrote them into the permit in April 2025, and applied them only to newly eligible sites on lands of exclusive federal jurisdiction. The proposal extends them to everybody the permit covers.

The one new obligation

The rest of the document mostly removes work. One item adds it.

The Stormwater Pollution Prevention Plan already has to be written before an operator files a Notice of Intent, and already has to be produced on request or at an inspection. It does not have to be filed. The EPA proposes that it be filed, in whole, or as a link, or as the site map together with the signed certification, and gives its reason plainly: without it the agency cannot answer a question about a site in real time.

What comes out

Perimeter controls would be required only around ground that can actually receive stormwater, which the EPA says operators have been reading as an instruction to ring the whole site whether or not water flows that way. Stabilization deadlines for arid, semi arid and drought stricken sites would stop turning on three overlapping conditions at once. A site caught by unforeseeable snow or frozen ground could pause the stabilization clock, a change the agency traces to at least one site that hit exactly that during the current permit term. And the Notice of Termination would take post stabilization photographs alone, because the EPA looked at the pairs it has been collecting and concluded the before shots were not doing anything.

Two further cuts are asked about rather than proposed, both on turbidity, and both aimed at long running dewatering discharges.

The money

The EPA puts the total average annual incremental cost decrease of the whole package, against the 2022 permit, at $25,383 a year.

That is the national figure, across every covered operator in every covered jurisdiction, for an action the same document records as a significant regulatory action that went to the Office of Management and Budget and is expected to count as deregulatory under Executive Order 14192.

The document: Environmental Protection Agency, National Pollutant Discharge Elimination System (NPDES) 2027 Issuance of General Permit for Stormwater Discharges from Construction Activities, Docket ID No. EPA-HQ-OW-2025-0760, FRL 12061-01-OW. Notice; request for public comment. FR Doc. 2026-15656, filed 31 July 2026 at 8:45 a.m., publication date 3 August 2026. The complete raw text was pulled from the Federal Register public inspection raw_text endpoint, 48,627 bytes, and read here rather than summarised; every figure and date below appears in that text. Verified: the proposed permit would replace the 2022 CGP, which the notice states expires on 17 February 2027, and would run five years. Comments are due 30 days after publication, and the notice carries the date as a bracketed insertion rather than a calendar date, so this item states the mechanism and not a computed deadline. Coverage extends to operators in areas where the EPA is the permitting authority, listed in Appendix B of the proposed permit and described in the notice as New Hampshire, Massachusetts and New Mexico, most Indian country lands, Lands of Exclusive Federal Jurisdiction, areas in selected states for federally operated projects, the District of Columbia, Puerto Rico and the Pacific Island territories, with the summary paragraph adding that United States territories and protectorates are covered except for the United States Virgin Islands. Applicability is to construction site operators disturbing one acre or more, or less than one acre where the work is part of a larger common plan of development or sale that will ultimately disturb one acre or more, with the definitions at 40 CFR 122.26(b)(14)(x) and 122.26(b)(15) named as the test. On the Supreme Court change the notice cites City and County of San Francisco v. EPA, No. 23-753, decided 4 March 2025, reported at 604 U.S. 334, and states that the indicator conditions being extended to all permittees were first added by the April 2025 modification at 90 FR 15653, 15 April 2025, where they applied only to newly eligible sites within Lands of Exclusive Federal Jurisdiction. The cost sentence reads that the estimated total average annual incremental cost decrease compared with the 2022 CGP would be $25,383 per year, and the notice separately records the action as a significant regulatory action submitted to the Office of Management and Budget and as an expected Executive Order 14192 deregulatory action. Tribal consultation ran from 7 July 2025 to 5 September 2025 across 574 federally recognized Tribes, with informational webinars on 22 and 24 July 2025 and 30 Tribal representatives attending the first. The NEPA categorical exclusion determination is dated 27 July 2026 under 40 CFR 6.204(a)(1)(iv). The notice states the EPA does not currently intend to schedule a public hearing. It is signed by the water division directors of all ten EPA regions. This item asserts no conduct by any party and contains no allegation..