"In meetings and Main Street tours, a top concern I continue to hear from small businesses is the stifling effect of onerous federal regulations on their ability to grow, plan for the future and hire new employees," Snowe said. "It is critical that the effect of federal regulations on small businesses be taken into greater consideration throughout the regulatory process."
Specifically, the bill would require federal agencies to consider how regulations affect small businesses and penalize agencies that don't conduct these reviews. It would also create nine new small-business review panels at key agencies, and allow small companies to seek judicial review of regulations within the first year they are finalized.
Other co-sponsors to Snowe's bill, S. 1030, are Sens. Kelly AyotteKelly AyotteDem senator tears up in farewell speech Juan Williams: McConnell won big by blocking Obama Battle brews over Trump’s foreign policy MORE (R-N.H.), John BarrassoJohn BarrassoGOP eyes big gamble on ObamaCare Reid defends relationship with McConnell in farewell speech Overnight Energy: Trump taps EPA foe to head agency | Energy reform bill officially dead MORE (R-Wyo.), Dan CoatsDan CoatsTrump's Cabinet: What jobs are left to fill Trump narrows secretary of State field to four finalists 2016’s battle for the Senate: A shifting map MORE (R-Ind.), Tom CoburnTom CoburnWill Trump back women’s museum? Don't roll back ban on earmarks Ryan calls out GOP in anti-poverty fight MORE (R-Okla.), Mike EnziMike EnziSenate Dems draw hard line over miners' pension bill Republicans want to grease tracks for Trump President-elect Trump: Please drain the student loan swamp MORE (R-Wyo.), John Isakson (R-Ga.), Jerry MoranJerry MoranSenate GOP to Obama: Stop issuing new rules Overnight Tech: Bill protecting online reviews heads to Obama | New addition to FCC transition team | Record Cyber Monday Overnight Finance: Trump expected to pick Steven Mnuchin for Treasury | Budget chair up for grabs | Trump team gets deal on Carrier jobs MORE (R-Kan.) and John ThuneJohn ThuneOvernight Tech: Last-ditch effort to get Dem FCC commish confirmed | Facebook's Sandberg on fake news | Microsoft completes LinkedIn deal FCC chairman willing to resign to get colleague confirmed Overnight Tech: AT&T, Time Warner CEOs defend merger before Congress | More tech execs join Trump team | Republican details path to undoing net neutrality MORE (R-S.D.).