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.
With the passage of the Deficit Reduction Act. (DRA) of 2005, signed into law Feb. 8, 2006, look back rules were tightened, and the look. back time frame was expanded from three. years to five years. market value during the look back period.