"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 AyotteBottom Line How Gorsuch's confirmation shapes the next Supreme Court battle THE MEMO: Trump set to notch needed win with Gorsuch MORE (R-N.H.), John BarrassoJohn BarrassoPoll: Sanders most popular senator in the US The animal advocate Trump climate move risks unraveling Paris commitments MORE (R-Wyo.), Dan CoatsDan CoatsSouth Korea missile defense online in ‘coming days’ Sanders on skipping WH Korea briefing: 'I did not want to be part of a photo op' Overnight Defense: Senators go to White House for North Korea briefing | Admiral takes 'hit' for aircraft carrier mixup | Lawmakers urged to beef up US missile defense MORE (R-Ind.), Tom CoburnTom CoburnFreedom Caucus saved Paul Ryan's job: GOP has promises to keep Don't be fooled: Carper and Norton don't fight for DC Coburn: Trump's tweets aren't presidential MORE (R-Okla.), Mike EnziMike EnziTrump should work with Congress to block regulations on prepaid cards GOP wrestles with big question: What now? Top Dem: Trump's State Dept. cuts a 'Ponzi scheme' MORE (R-Wyo.), John Isakson (R-Ga.), Jerry MoranJerry MoranAt the table: The importance of advocating for ABLE GOP lawmakers lead way in holding town halls Yahoo reveals new details about security MORE (R-Kan.) and John ThuneJohn ThuneHopes fade for using tax reform on infrastructure United explains passenger removal to senators Ryan praises FCC chief's plans to roll back net neutrality MORE (R-S.D.).