Other names for this bill
This bill typically is referred to as the Contract with America.
This bill is a collection of several acts
This bill consists of several acts that typically are referred to by their individual names...
o Line Item Veto Act
o Small Business Regulatory Enforcement Fairness Act
It also authorized an increase in the debt limit.
Congress can nullify new rules by federal agencies
The Small Business Regulatory Enforcement Fairness Act included the Congressional Review Act.
The act requires agencies to submit any new rule to Congress before the rule can take effect. Congress then has up to 60 days to pass a joint resolution to prevent the rule from taking effect.
The resolution is not subject to a filibuster. However, the presidential approval is required (if the president vetoes the resolution, the veto may be overridden by Congress).
For a more detailed understanding of how the Congressional Review Act works, read the Congressional Research Service report.
More information...
You can find more details about this bill at GovTrack.us.