Senate GOP seeks regulatory 'time out'

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

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"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 AlexanderGOP Rep. Black wins primary fight GOP senators to donors: Stick with us regardless of Trump Overnight Healthcare: Mysterious new Zika case | Mental health bill in doubt | Teletraining to fight opioids MORE (R-Tenn.), John BarrassoJohn BarrassoGOP blasts EPA on mine spill anniversary Investigators open criminal probe into EPA mine waste spill McAuliffe: I wouldn't want a 'caretaker' in Kaine's Senate seat MORE (R-Wyo.), Roy BluntRoy BluntTrump, Clinton running even in Missouri Top Republican presses Kerry for Iran 'ransom' details AFL-CIO urges GOP senators to 'renounce' Trump MORE (R-Mo.), John BoozmanJohn BoozmanSeeing 20/20 on the Contact Lens Consumers Health Protection Act Tim Kaine backs call to boost funding for Israeli missile defense Senators launch broadband caucus 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 CoatsBayh's Indiana voting status is inactive: report Poll: Democrat Bayh up 7 points in Indiana Senate race Indiana Dem Bayh touts his 'independence' in Senate ad MORE (R-Ind.), Tom CoburnTom CoburnRyan calls out GOP in anti-poverty fight The Trail 2016: Words matter Ex-Sen. Coburn: I won’t challenge Trump, I’ll vote for him MORE (R-Okla.), John CornynJohn CornynThe Hill's 12:30 Report Top Republican questions Lynch on Clinton Foundation probe Baby dies of Zika in Texas MORE (R-Texas), John HoevenJohn HoevenMajority of GOP senators to attend Trump convention Death threats against senators remained on Twitter for 2 weeks Senate panel approves funding boost for TSA MORE (R-N.D.), Kay Bailey Hutchison (R-Texas), Johnny IsaksonJohnny IsaksonCruz, Lee question legality of Iran payment GOP senator: Obama 'hid' Iran payment from Congress GOP senators push Kerry on Iran payment MORE (R-Ga.), Mark KirkMark KirkThe Trail 2016: Focus on the Foundation White House: 0M Iran payment wasn’t ransom GOP senator to hold Iran payment hearing MORE (R-Ill.), Jon Kyl (R-Ariz.), Jerry MoranJerry MoranMeet the rising GOP star who already enrages the left GOP warming up to Cuba travel Senate clears FAA authorization bill MORE (R-Kan.), Pat RobertsPat RobertsTrump's new agriculture brain trust includes Rick Perry, Jim Gilmore Newer waters, same river: The Louisiana floods, and a state in turmoil Meet the rising GOP star who already enrages the left MORE (R-Kan.), and John ThuneJohn ThuneApple, Google enlisted for FCC robocall effort Fidelity denies lobbying for student loan tax break Republicans see fresh chance to overhaul telecom law MORE (R-S.D.).

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