A bill to amend the Federal Water Pollution Control Act to clarify the scope of an exemption from permits for the discharge of dredged or fill material, and for other purposes.

Senator Lummis (R-WY) introduced S4956 on July 13, 2026, which seeks to clarify the scope of an exemption from Clean Water Act Section 404 permits for discharges of dredged or fill material. The bill is in the earliest legislative stage—referred to committee—and requires further action before any regulatory changes occur. No specific dollar amounts are authorized or appropriated. The bill's text is not provided, but the title suggests a potential narrowing of federal wetlands jurisdiction, which could reduce permitting costs for mining, agriculture, and infrastructure projects. However, the legislative path is long: committee markup, floor debate, House passage, and presidential signature. At this stage, there is no concrete market impact. Investors should monitor committee activity and any amendments for clarity on the exemption's scope. No tickers are actionable given the high uncertainty and early stage.