"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 AyotteGOP women push Trump on VP pick John Bolton PAC pours more cash into GOP campaigns Dem campaign arm: Poll numbers slipping for vulnerable Republicans MORE (R-N.H.), John BarrassoJohn BarrassoObamaCare premiums expected to rise sharply amid insurer losses Palestine is latest GOP offensive in climate change wars Senate GOP sticks with leadership team MORE (R-Wyo.), Dan CoatsDan CoatsGOP blasts Obama for slow economic growth GOP Senate candidate failed to report private plane trip from Ind. supporter Overnight Finance: Fed steady on rates; Dems rally behind retirement rule MORE (R-Ind.), Tom CoburnTom CoburnGOP faces existential threat Sanders tops 2016 field in newly deleted tweets The Hill's 12:30 Report MORE (R-Okla.), Mike EnziMike EnziGOP blocks slate of Obama judicial nominees Overnight Finance: New rules proposed to curb Wall Street pay GOP senator tries to tie 'No budget, no pay' to funding bill MORE (R-Wyo.), John Isakson (R-Ga.), Jerry MoranJerry MoranOvernight Finance: McConnell fast-tracks IRS bills; WH pushes free college tuition The Trail 2016: New Trump same as the old GOP lawmaker passes on Kansas Senate primary challenge MORE (R-Kan.) and John ThuneJohn ThuneGOP blasts Obama for slow economic growth Overnight Tech: Business data deals on FCC agenda Overnight Tech: Email privacy bill gets its day MORE (R-S.D.).