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 AlexanderKey Republicans ask Trump to keep on NIH director McConnell tees up medical cures bill Speculation and starting points: accreditation, a new administration and a new Congress MORE (R-Tenn.), John BarrassoJohn BarrassoGOP lawmaker outlines goal to repeal and replace ObamaCare Pressure builds on M ObamaCare funding case as others wait GOP unveils bill to block ObamaCare 'bailout' MORE (R-Wyo.), Roy BluntRoy BluntKey Republicans ask Trump to keep on NIH director Overnight Defense: Trump reportedly picking Mattis for Defense chief Dem senator: Petraeus would have ‘real challenge’ on confirmation MORE (R-Mo.), John BoozmanJohn BoozmanDeficits could stand in the way of Trump's agenda The untold stories of the 2016 battle for the Senate SENATE: Republicans defy odds to keep majority 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 CoatsTrump narrows secretary of State field to four finalists 2016’s battle for the Senate: A shifting map 10 Senate seats that could flip in 2018 MORE (R-Ind.), Tom CoburnTom CoburnWill Trump back women’s museum? Don't roll back ban on earmarks Ryan calls out GOP in anti-poverty fight MORE (R-Okla.), John CornynJohn CornynTrump gets chance to remake the courts Lawmakers eye early exit from Washington Victims of Nazi Art theft need Congress to HEAR MORE (R-Texas), John HoevenJohn HoevenDem senator to meet with Trump Overnight Energy: Dakota pipeline standoff heats up ND senators tell pipeline protesters to vacate camp MORE (R-N.D.), Kay Bailey Hutchison (R-Texas), Johnny IsaksonJohnny IsaksonGOP senators wary of nuking filibuster SENATE: Republicans defy odds to keep majority A banner year for U.S. leadership on aid effectiveness MORE (R-Ga.), Mark KirkMark KirkBattle for the Senate: Top of ticket dominates The untold stories of the 2016 battle for the Senate Women make little gains in new Congress MORE (R-Ill.), Jon Kyl (R-Ariz.), Jerry MoranJerry MoranOvernight Tech: Bill protecting online reviews heads to Obama | New addition to FCC transition team | Record Cyber Monday Overnight Finance: Trump expected to pick Steven Mnuchin for Treasury | Budget chair up for grabs | Trump team gets deal on Carrier jobs Congress passes bill protecting online customer reviews MORE (R-Kan.), Pat RobertsPat RobertsGOP debates going big on tax reform Memo to the LGBT community: Donald Trump is not your enemy Bob McDonnell to join Regent Univ. faculty MORE (R-Kan.), and John ThuneJohn ThuneFight breaks out at FCC over 'zero-rating' data plans A political temper tantrum at the FCC Overnight Tech: Lawmakers look at US edge in artificial intelligence | Walden favored for Energy, Commerce gavel | Tech reaches out to Trump MORE (R-S.D.).