Vote scheduled on controversial regulatory reform amendment

“When someone offers an amendment we should be able to work it to a conclusion," said Reid in reference to Snowe's language.

Snowe's amendment is similar to one she offered earlier in the year that ended up stalling the amendment process on the Small Business Administration (SBA) funding bill, which, in part, led to its demise. 

"The breadth of regulations is truly punitive on the businesses of America," said Snowe in support of her amendment from the floor on Thursday morning. "It's clear many people don't understand how essential this amendment is to the survival of small business and to job creation." 

Sen. Barbara BoxerBarbara BoxerDems gain upper hand on budget Overnight Finance: Senate rejects funding bill as shutdown looms | Labor Dept. to probe Wells Fargo | Fed to ease stress test rules for small banks Funding bill rejected as shutdown nears MORE (D-Calif.), who is the sponsor of the underlying Economic Development Act, said she considers Snowe’s amendment a distraction.

She also argued that the regulations Snowe wants to do away with are essential to public health and safety.

"It would absolutely change the way we can protect our people from pollution and from danger," said Boxer. "It ignores public safety."

The underlying Economic Development Revitalization Act would increase funding for the Public Works and Economic Development Administration.