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 AlexanderLamar AlexanderOvernight Regulation: Trump's Labor nominee hints at updating overtime rule Trump's Labor pick signals support for overtime pay hike Live coverage: Day three of Supreme Court nominee hearing MORE (R-Tenn.), John BarrassoJohn BarrassoHow 'Big Pharma' stifles pharmaceutical innovation Making water infrastructure a priority Overnight Energy: Trump's Keystone XL approval coming soon MORE (R-Wyo.), Roy BluntRoy BluntTop Dems prep for future while out of the spotlight Overnight Healthcare: Pressure mounts for changes to GOP ObamaCare bill Pressure mounts for changes to ObamaCare bill MORE (R-Mo.), John BoozmanJohn BoozmanSenate Republicans eyeing alternative tax reform plan Lawmakers fundraise amid rising town hall pressure A guide to the committees: Senate MORE (R-Ark.), Saxby ChamblissSaxby ChamblissWyden hammers CIA chief over Senate spying Cruz is a liability Inside Paul Ryan’s brain trust MORE (R-Ga.), Dan CoatsDan CoatsMcCain says he hasn't met with Trump since inauguration Oversight committee asks White House, FBI for Flynn records Live coverage: FBI director testifies to Congress MORE (R-Ind.), Tom CoburnTom CoburnDon't be fooled: Carper and Norton don't fight for DC Coburn: Trump's tweets aren't presidential The road ahead for America’s highways MORE (R-Okla.), John CornynJohn CornynGOP senators pitch alternatives after House pulls ObamaCare repeal bill Rand Paul takes victory lap on GOP health bill Senators push Trump on defense deals with India MORE (R-Texas), John HoevenJohn HoevenSenate panel considers how to fund Trump’s T infrastructure package A guide to the committees: Senate GOP senators unveil bill to give Congress control of consumer bureau budget MORE (R-N.D.), Kay Bailey Hutchison (R-Texas), Johnny IsaksonJohnny IsaksonOvernight Finance: Senators spar over Wall Street at SEC pick's hearing | New CBO score for ObamaCare bill | Agency signs off on Trump DC hotel lease GOP senators offer bill to require spending cuts with debt-limit hikes Schumer to House GOP: 'Turn back before it's too late' MORE (R-Ga.), Mark KirkMark KirkObamaCare repeal bill would defund Planned Parenthood Leaked ObamaCare bill would defund Planned Parenthood GOP senator won't vote to defund Planned Parenthood MORE (R-Ill.), Jon Kyl (R-Ariz.), Jerry MoranJerry MoranGOP lawmakers lead way in holding town halls Yahoo reveals new details about security A guide to the committees: Senate MORE (R-Kan.), Pat RobertsPat RobertsDems mock House GOP over lack of women in healthcare meeting Perdue vows to be chief salesman for US agriculture abroad GOP senator apologizes for mammogram joke MORE (R-Kan.), and John ThuneJohn ThuneLawmakers want infrastructure funded by offshore tax reform Senate GOP hedges on ObamaCare repeal timeline Week ahead: Robocall crackdown tops FCC meeting agenda MORE (R-S.D.).