A bill to terminate certain authorities of the executive branch of the Government which are subject to congressional review unless those authorities are approved by an enactment of the Congress.

Terminates the President's authorities relating to loans and loan guarantees to prevent the financial insolvency or bankruptcy of any contractor connected with performing a contract or operation deemed necessary to the national defense under the Defense Production Act of 1950 (formerly subject to congressional veto) unless the exercise of such authorities is approved by an enactment of Congress within 180 days after enactment of this Act.