What are the implications of the Unfunded Mandates Reform Act of 1995?

What will be an ideal response?

An ideal response would be:
The Unfunded Mandates Reform Act of 1995 was championed by then-House Republican Speaker Newt Gingrich as part of the GOP's Contract with America. The act was considered part of what commentators called the "Newt Federalism."
The law requires Congress to evaluate the impact of unfunded mandates and imposes mild constraints on Congress itself. A congressional committee that approves any legislation containing a national mandate must draw attention to the mandate in its report and describe its cost to state and local governments. If the committee intends any mandate to be partially unfunded, it must explain why it is appropriate for state and local governments to pay for it. At least during its first 15 years, the Unfunded Mandates Reform Act has been mostly successful in restraining mandates. According to the National Conference of State Legislatures, the national government has enacted only 11 laws since 1995 that impose unfunded mandates. Three of these unfunded mandates involved increases in the minimum wage that apply to all state and local employees.