Collins is the five-term senator from Maine.
Democrats have won several key races in the high-stakes midterm elections -- with ABC News projecting that Democrats will take control of the Senate and the House.
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Democrat Hannah Pingree, the former Maine House speaker, is projected to win the Maine governor's seat, beating Republican challenger Bobby Charles and third-party candidate Rick Bennett.
Democrat Josh Turek, a state representative, is projected to defeat Republican Rep. Ashley Hinson in the race to fill retiring Republican Sen. Joni Ernst's seat.
This would mark the first time since 2008 that a Democrat has won a U.S. Senate seat in Iowa.
In battleground Wisconsin, Republican Rep. Tom Tiffany conceded to Democrat David Crowley, the Milwaukee County executive, in the high-stakes race for governor.
"While tonight was not the outcome we had hoped for, I am incredibly grateful to the Wisconsinites who supported our campaign. I congratulate David Crowley on his victory. We both care deeply about Wisconsin, and I wish him and his family the very best as he prepares to serve as our next governor," Tiffany said in a statement.
Crowley is set to be Wisconsin's first Black governor.
"Tonight, Wisconsin made history," Crowley said in a statement. "Being your next Governor is humbling in its own right. I ran to be the Governor for All of Us. And tonight, that includes everyone who didn’t vote for me. I'll listen to you. I'll work for you. And I hope to earn your trust the only way I know how: by showing up and getting results."
ABC News has projected Crowley to win in the race to succeed Wisconsin Gov. Tony Evers, who did not seek a third term.
-ABC News' Gaby Vinick
The Democrats are projected to take control of the Senate.
