Free trade: Free trade, a policy by which a government does not discriminate against imports or interfere with exports by applying tariffs (to imports) or subsidies (to exports). a
Deficit Reduction Act 2005 Law and Legal Definition. The Deficit Reduction Act of 2005 is a United States Act of Congress concerning the budget. It addresses deficit reductions ranging from education to housing and Medicare to Medicaid. It was signed into law by President Bush on February 8, 2006 after a closely divided Congress approved the legislation.
Hepburn Act Law and Legal Definition The Hepburn Act (Act) is a railroad legislation. The Act authorized the Interstate Commerce Commission (ICC) to set maximum railroad rates. The ICC was also authorized to view financial records of railroads and was under a duty to maintain the records in a standardized bookkeeping system. The Act marinated railroad regulations.