Collins introduced the Regulatory Time-Out Act, S. 1538, which would create a moratorium on new regulations for one year.
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 AlexanderSenators press Obama education chief on reforms Senate honors Tennessee coach Pat Summitt Bipartisan gun measure survives test vote MORE (R-Tenn.), John BarrassoJohn BarrassoGOP senator: Obama ‘believes he is above the law’ Republican senator expects Trump will 'embrace' GOP platform Sunday shows preview: Bernie soldiers on MORE (R-Wyo.), Roy BluntRoy BluntSenate Dems: No August break without Zika deal Overnight Finance: Senate sends Puerto Rico bill to Obama | Treasury, lawmakers to meet on tax rules | Obama hits Trump on NAFTA | Fed approves most banks' capital plans Overnight Healthcare: Sanders, Clinton ally jockey for health gavel MORE (R-Mo.), John BoozmanJohn BoozmanOvernight Tech: House GOP launches probe into phone, internet subsidies Overnight Tech: Trade groups press NC on bathroom law GOP senators: Obama bathroom guidance is 'not appropriate' 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 CoatsBipartisan gun measure survives test vote Senate panel advances nominee who Democrats blasted on Social Security Lobbying World MORE (R-Ind.), Tom CoburnTom CoburnCoburn: I haven't seen 'self-discipline' from Trump McCain: No third-party foes coming for Trump Tough choice for vulnerable GOP senators: Embrace or reject Trump MORE (R-Okla.), John CornynJohn CornynLynch pressured to recuse herself after Clinton tarmac meeting Overnight Tech: Obama signs FOIA reform bill | Musicians take YouTube fight to Europe | Feds probe first driverless car death Obama signs bill to expand access to federal records MORE (R-Texas), John HoevenJohn HoevenDeath threats against senators remained on Twitter for 2 weeks Senate panel approves funding boost for TSA Overnight Energy: Senate Dems block energy, water bill a third time MORE (R-N.D.), Kay Bailey Hutchison (R-Texas), Johnny IsaksonJohnny IsaksonSenate faces critical vote on Puerto Rico GOP senators: Obama bathroom guidance is 'not appropriate' Amateur theatrics: An insult to Africa MORE (R-Ga.), Mark KirkMark KirkSenate panel approves 0M for international climate fund Senator calls for pause in accepting Syrian refugees after Istanbul attack Overnight Healthcare: Blame game over Zika funding MORE (R-Ill.), Jon Kyl (R-Ariz.), Jerry MoranJerry MoranSenate panel approves lifting Cuba travel ban Boost in Afghan visas blocked in Senate Senate contradicts itself on Gitmo MORE (R-Kan.), Pat RobertsPat RobertsOvernight Regulation: FDA raises concerns over GMO labeling bill FDA concerned with GMO labeling 'compromise' Senators press Obama education chief on reforms MORE (R-Kan.), and John ThuneJohn ThuneGingrich, Christie top Trump’s VP list: report Congress must resolve net neutrality once and for all Facebook offers set of 'Values' to reassure users of neutrality MORE (R-S.D.).