Olympia Snowe: “I have long worked to reduce the burden that Federal regulations bear on small businesses. Over the past twenty years…”

“I have long worked to reduce the burden that Federal regulations bear on small businesses. Over the past twenty years, the number and complexity of Federal regulations have multiplied at an alarming rate. These regulations impose a much more significant impact on small businesses than larger businesses. A recent report prepared for the Small Business Administration's Office of Advocacy found that in 2004, the per-employee cost of Federal regulations for firms with fewer than 20 employees was $7,647. That was 44.8 percent more than the $5,282 per-employee cost faced by businesses with 500 or more workers. That is why today, I rise with Senators Kerry, Enzi, and Landrieu to introduce the Small Business Compliance Assistance Enhancement Act of 2007. Our bill would clarify requirements that exist under Federal law to ensure that agencies produce useful small business compliance guides that explain, in a readable format, the compliance requirements of complex rules. This 'small,' targeted reform, which would not create any new rules or requirements, would have a major benefit for small businesses across the country.”