In 1974, a renewed attempt passed as the Nelson-Bingham Act of 1974. It provided that when the U.S. government offered to sell any defense article or service costing $25 million or more, the President must inform both Houses of Congress of the details, giving Congress twenty days to adopt a "veto" resolution. The Nelson-Bingham initiative worked "a profound transformation in arms export policy" and had a "significant impact on U.S. government policy, both on long-range planning and on several major individual sales."