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.
A: Yes, many times. However, they say the tactic is intended to be used only to reduce budget deficits, not to force through substantive policy legislation on a narrow partisan majority. While they've used reconciliation in the past to cut taxes and overhaul welfare, they say this is different.