Collins introduced the Regulatory Time-Out Act, S. 1538, which would create a moratorium on new regulations for one year.

ADVERTISEMENT
"Under my bill, no significant final rule that would have an adverse impact could go into effect during a 1-year moratorium," she said. "This timeout would cover major rules costing more than $100 million per year, and other rules that have been considered 'significant' under Executive orders going back to President Clinton and followed by President George W. Bush and President Obama."

Collins said one example of a rule that would be affected is the Environmental Protection Agency's proposed Boiler MACT rule, which would regulate boiler emissions. Collins said this rule could force pulp and paper mills and other operations to close.

"And that is just for starters," she said. "Once these mills close, the businesses that supply them would also be forced to lay off workers. Estimates are that nearly 90,000 Americans would lose their jobs, wages would drop by $4 billion, and government at all levels would see revenues decline by a staggering $1.3 billion."

Collins noted that her bill would exempt some regulations needed to deal with emergencies, such as threats to public health and safety. It also exempts rules related to reducing the regulatory burden.

Under the bill, federal agencies would have 10 days to submit rules they believe are exempt from her moratorium.

Collins has also proposed the Clearing Unnecessary Regulatory Burdens Act, which would require agencies to examine the cost of regulations on companies before these rules are finalized.

Co-sponsors of the bill are Sens. Lamar AlexanderAndrew (Lamar) Lamar AlexanderObamaCare becomes political weapon for Democrats Senate passes resolution requiring mandatory sexual harassment training Sen. Warren sold out the DNC MORE (R-Tenn.), John BarrassoJohn Anthony BarrassoThis week: GOP seeks to advance tax overhaul Dissent is democratic: Stop calling McCain, Corker, Flake RINOs The farm bill presents a chance to lighten the regulatory burden of farmers MORE (R-Wyo.), Roy BluntRoy Dean BluntWe must fund community health centers now Overnight Tech: Senators demand tech firms do more on Russian meddling | House Intel releases Russian-promoted ads | Apple CEO says 'fake news' bigger threat than ads | Ex-Yahoo CEO, Equifax execs to testify on breaches Facebook: Clinton, Trump campaigns spent a combined M on ads MORE (R-Mo.), John BoozmanJohn Nichols BoozmanLobbying World The Hill's Whip List: Republicans try again on ObamaCare repeal GOP senator undergoing follow-up surgery next week MORE (R-Ark.), Saxby ChamblissSaxby ChamblissLobbying World Former GOP senator: Let Dems engage on healthcare bill OPINION: Left-wing politics will be the demise of the Democratic Party MORE (R-Ga.), Dan CoatsDaniel (Dan) Ray CoatsCounterintelligence needs reboot for 21st century Ending FISA’s sunset provisions is not a risk worth taking Overnight Cybersecurity: Facebook's Sandberg backs release of Russian ads | Watchdog to probe alleged FCC cyberattack | Trump officially nominates new DHS head MORE (R-Ind.), Tom CoburnTom CoburnFormer GOP senator: Trump has a personality disorder Lobbying World -trillion debt puts US fiscal house on very shaky ground MORE (R-Okla.), John CornynJohn CornynAfter Texas shooting, lawmakers question whether military has systemic reporting problem Overnight Defense: Lawmakers question military's lapse after Texas shooting | Trump asks North Korea to 'make a deal' | Senate panel approves Army pick Overnight Regulation: House passes bill to overturn joint-employer rule | Trump officials to allow work requirements for Medicaid | Lawmakers 'alarmed' by EPA's science board changes MORE (R-Texas), John HoevenJohn Henry HoevenSenate tax plan may delay corporate rate cut by one year: report Pence to visit ICBM base The Hill's Whip List: Republicans try again on ObamaCare repeal MORE (R-N.D.), Kay Bailey Hutchison (R-Texas), Johnny IsaksonJohn (Johnny) Hardy IsaksonCongress is working to honor America’s heroes Bipartisan lawmakers can rebuild trust by passing infusion therapy bill 24 senators co-sponsor bipartisan ObamaCare deal MORE (R-Ga.), Mark KirkMark KirkHigh stakes as Trump heads to Hill Five things to watch for at Trump-Senate GOP meeting Giffords, Scalise highlight party differences on guns MORE (R-Ill.), Jon Kyl (R-Ariz.), Jerry MoranGerald (Jerry) MoranAn unlikely bipartisan solution on energy and taxes Alexander struggles to find health-care breakthrough Overnight Tech: House Intel to release Russian Facebook ads | Trump tweet on NBC draws backlash | Senators want answers from alleged robocall king | Twitter reverses on Blackburn ad MORE (R-Kan.), Pat RobertsCharles (Pat) Patrick RobertsSenate passes resolution requiring mandatory sexual harassment training Overnight Energy: Perry takes heat for sexual assault comments | Clovis withdraws nomination for USDA post | Battle lines drawn on Arctic refuge drilling | Energy regulator back to full strength Trump USDA pick linked to Mueller probe withdraws nomination MORE (R-Kan.), and John ThuneJohn Randolph ThuneOvernight Tech: Senate panel subpoenaed ex-Yahoo chief | Twitter gives all users 280 characters | FBI can't access Texas shooter's phone | EU wants tax answers from Apple Overnight Cybersecurity: What we learned from Carter Page's House Intel testimony | House to mark up foreign intel reform law | FBI can't access Texas shooter's phone | Sessions to testify at hearing amid Russia scrutiny Former Yahoo CEO subpoenaed to appear before Congress MORE (R-S.D.).