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.
The Congressional Budget and Impoundment Control Act of 1974 (Pub.L. 93â344, 88 Stat. 297, 2 U.S.C. Â§Â§ 601 â 688) is a United States federal law that governs the role of the Congress in the United States budget process.itle X of the Act, also known as the Impoundment Control Act of 1974, specifies that the President may request that Congress rescind appropriated funds.