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.
Budget Reform Act of 1974. (Budget Impoundment& Control Act), Requires the president to spend all appropriated funds unless he first tells Congress what funds he wishes not to spend and Congress, within forty five days, agrees to delete the items.