Year Legislation Significance
1994 Interstate Banking and Branching
Efficiency Act
Allowed banks to establish branch offices throughout the country and
removed barriers to interstate bank ownership.1994 Federal Work Force Restructuring
Act
Set a target of a 252,000 -person reduction in the federal workforce over
six years.1994 Educate America Act Established eight national education goals for elementary and
secondary schools to meet by 2000.
1994 Violent Crime Control and Law
Enforcement Act
Authorized $30.2 billion over six years to fight crime in the United
States; created a trust fund to pay for programs.1994 Dietary Supplemental Health and
Education Act
Created the Office of Dietary Supplements with the National Institutes
of Health; established a commission to recommend standards for
settling labeling claims; revised procedures for Food and Drug
Administration approval of new products.1995 Private Securities Litigation Reform
Act
Passed over President Bill Clinton’s veto, this law made significant
changes to securities fraud litigation and created new responsibilities
for auditors to report illegal activities.1995 Lobbying Disclosure Act As a result of this law, lobbyists receiving more that $5,000 during a six-
month period from a single client had to register with the clerk of the
House and secretary of the Senate; required lobbyists to disclose the
congressional chambers and federal agencies they contacted.
1995 Paperwork Reduction Act Set a target of a 10 percent reduction in federal paperwork for first
two years of law and 5 percent reduction for four years thereafter;
reauthorized the Office of Information and Regulatory Affairs,
which was responsible for implementing the law.
1995 Congressional Accountability Act Forced congressional compliance with eleven federal labor and
antidiscrimination laws.
1995 National Highway System
Designation Act
Eliminated federal maximum speed limits; eliminated penalties for
states that did not mandate motorcycle helmets; added 160,000 miles
of regional roadways to the national highway system.1995 Interstate Commerce Commission
Termination Act
Terminated the Interstate Commerce Commission and transferred
many of its responsibilities to the Surface Transportation Board within
the Department of Transportation.1995 Unfunded Mandates Reform Act Restricted both Congress and the executive branch from imposing
mandates on state and local governments without adequate funding.
1996 Line Item Veto Act Later ruled unconstitutional by the U.S. Supreme Court, this law
permitted the president to veto items within appropriations bills rather
than having to veto the entire bill.
1996 Sustainable Fisheries Act Amended the 1976 Magnuson Fishery Conservation Act in order to
strengthen long-term protection of essential fish habitats and require
management plans for same.
1996 National Markets Improvement Act Limited the authority of states to regulate securities listed on national
exchanges but allowed states to retain regulations affecting smaller
investment advisers; reduced registration fees charged by the Securities
and Exchange Commission.
986 Legislation: Major U.S. Legislation The Nineties in America