California is rolling back environmental regulations for some construction projects after Gov. Gavin Newsom signed a law this week ending strict review for many new developments. Why it matters: The move could cut down planning and zoning timelines in cities that desperately need more housing.

Governor Gavin Newsom called the move the "most consequential housing reform that we've seen in modern history."

Gov. Gavin Newsom and state lawmakers scaled back a law that was vilified for its role in California’s housing shortage and homelessness crisis.