Businesses may get a one-year reprieve from having to comply with new regulations not enacted before Sept. 1 of this year pending the approval of the Regulatory Time-Out Act of 2011. The bill, proposed by 16 Senate members led by Senator Susan Collins, would postpone some final regulations that could potentially increase the cost of doing business. The bill was referred to the Senate Committee on Homeland Security and Governmental Affairs.
Collins proposed that covered regulations that took effect prior to the Regulatory Time-Out Act be postponed for a year from the effective date of the Act. The group also advocated for proposed regulations not to take effect at all during the 12-month period.
