Olympia Snowe: “I rise today to introduce legislation that will boost America's small businesses and help them escape unnecessary…”

“I rise today to introduce legislation that will boost America's small businesses and help them escape unnecessary regulations that are stifling creativity, growth, and job creation. This legislation will encourage small businesses to invest and hire, giving the economy a much needed lift. Two of the most vital issues looming over small business job creators are tax and regulatory uncertainty. This bill aims to, among other things, deliver targeted tax relief to small businesses with eight different tax provisions, and protect small businesses from burdensome regulations. The Restoring Tax and Regulatory Certainty to Small Businesses Act of 2012 will provide small business owners and entrepreneurs with the confidence they need to expand, thrive, and prosper in today's insecure economy. My friend and colleague, Small Business Committee Chair Landrieu, recently proposed a small business relief act with some similar measures. However, Chair Landrieu's bill lacks many of the tax and regulatory reforms that small businesses are seeking. While her bill does contain some measures that I support, and which I have worked with her to include in a freestanding bipartisan small business jobs bill, it does not include any provisions to protect small businesses from arduous regulations. Additionally, it omits tax provisions that were included in our joint bill, S. 2050, that need to be addressed.…”