Bill Clinton's tenure as the 42nd president of the United States began with his first inauguration on January 20, 1993, and ended on January 20, 2001. Clinton, a Democrat from Arkansas, took office following a decisive election victory over Republican incumbent president George H. W. Bush and independent businessman Ross Perot in 1992. Four years later, in 1996, he defeated Perot again and Republican nominee Bob Dole, to win re-election; Clinton was succeeded by Republican George W. Bush, who won the 2000 presidential election.
The Canada–United States Free Trade Agreement (CUSFTA), official name as the Free Trade Agreement between Canada and the United States of America, was a bilateral trade agreement reached by negotiators for Canada and the United States on October 4, 1987, and signed by the leaders of both countries on January 2, 1988. The agreement phased out a wide range of trade restrictions in stages, over a ten-year period, and resulted in a substantial increase in cross-border trade as an improvement to the last replaced trade deal. With the addition of Mexico in 1994, CUSFTA was superseded by the North American Free Trade Agreement (NAFTA).
A balanced budget amendment is a constitutional rule requiring that a state cannot spend more than its income. It requires a balance between the projected receipts and expenditures of the government.
The United States International Trade Commission is an agency of the United States federal government that advises the legislative and executive branches on matters of trade. It is an independent, bipartisan entity that analyzes trade issues such as tariffs and competitiveness and publishes reports. As a quasi-judicial entity, the USITC investigates the impact of imports on U.S. industries, and directs actions against unfair trade practices, such as subsidies; dumping; and intellectual property infringement, including copyright infringement.
Budget reconciliation is a special parliamentary procedure of the United States Congress set up to expedite the passage of certain budgetary legislation in the United States Senate. The procedure overrides the filibuster rules in the Senate, which may otherwise require a 60-vote supermajority for passage by the Senate. Bills described as reconciliation bills can pass the Senate by a simple majority of 51 votes or 50 votes plus the Vice President's as the tie-breaker. The reconciliation procedure also applies to the House of Representatives, but it has minor significance there, as the rules of the House of Representatives do not have a de facto supermajority requirement. Due to greater polarization, gridlock, and filibustering in the Senate in recent years, budget reconciliation has come to play an important role in how the United States Congress legislates.
The Omnibus Budget Reconciliation Act of 1993 was a federal law that was enacted by the 103rd United States Congress and signed into law by President Bill Clinton on August 10, 1993. It has also been unofficially referred to as the Deficit Reduction Act of 1993. Part XIII of the law is also called the Revenue Reconciliation Act of 1993.
The economic policies of Bill Clinton administration, referred to by some as Clintonomics, encapsulates the economic policies of United States President Bill Clinton that were implemented during his presidency, which lasted from January 1993 to January 2001.
PAYGO is the practice in the United States of financing expenditures with funds that are currently available rather than borrowed.
The Budget Enforcement Act of 1990 (BEA) was enacted by the United States Congress as title XIII of the Omnibus Budget Reconciliation Act of 1990, to enforce the deficit reduction accomplished by that law by revising the federal budget control procedures originally enacted by the Gramm–Rudman–Hollings Balanced Budget Act. The BEA created two new budget control processes: a set of caps on annually-appropriated discretionary spending, and a "pay-as-you-go" or "PAYGO" process for entitlements and taxes.
The Harmonized Tariff Schedule of the United States (HTSUS), also referred to as the Harmonized Tariff Schedule of the United States Annotated (HTSA), is the primary resource for determining tariff classifications for goods imported into the United States. It can also be used in place of Schedule B for classifying goods exported from the United States to foreign countries. The Harmonized Tariff Schedule classifies a good based on its name, use, and/or the material used in its construction and assigns it a ten-digit classification code number, and there are over 17,000 unique classification code numbers. Although the U.S. International Trade Commission publishes and maintains the Schedule in its various forms, U.S. Customs and Border Protection is the only agency that can provide legally binding advice or rulings on classification of imports.
The Trade Act of 1974 was passed to help industry in the United States become more competitive or phase workers into other industries or occupations.
The fast track authority for brokering trade agreements is the authority of the President of the United States to negotiate international agreements in an expedited manner and with limited congressional oversight. Renamed the trade promotion authority (TPA) in 2002, the TPA is an impermanent power granted by Congress to the President. It remained in effect from 1975 to 1994, pursuant to the Trade Act of 1974 and from 2002 to 2007 pursuant to the Trade Act of 2002. Although it technically expired in July 2007, it remained in effect for agreements that were already under negotiation until their passage in 2011. In June 2015, a third renewal passed Congress and was signed into law by President Barack Obama.
The history of taxation in the United States begins with the colonial protest against British taxation policy in the 1760s, leading to the American Revolution. The independent nation collected taxes on imports ("tariffs"), whiskey, and on glass windows. States and localities collected poll taxes on voters and property taxes on land and commercial buildings. In addition, there were the state and federal excise taxes. State and federal inheritance taxes began after 1900, while the states began collecting sales taxes in the 1930s. The United States imposed income taxes briefly during the Civil War and the 1890s. In 1913, the 16th Amendment was ratified, however, the United States Constitution Article 1, Section 9 defines a direct tax. The Sixteenth Amendment to the United States Constitution did not create a new tax.
The Exon–Florio Amendment50 U.S.C. app 2170 is a law that was enacted by the United States Congress in 1988 to review foreign investment within the United States. The amendment was passed into law under the Omnibus Trade and Competitiveness Act of 1988 and amended Section 721 of Defense Production Act of 1950. All foreign investments that might affect national security may be reviewed and if deemed to pose a threat to security, the President of the United States may block the investment. According to the amendment, the president may block the investment when "there is credible evidence that leads the President to believe that the foreign interest exercising control might take action that threatens to impair the national security." President Reagan delegated the review process to the Committee on Foreign Investment in the United States.
Ronald Reagan was the 40th President of the United States (1981–1989). A Republican and former actor and governor of California, he energized the conservative movement in the United States from 1964. His basic foreign policy was to equal and surpass the Soviet Union in military strength, and put it on the road to what he called "the ash heap of history". By 1985, he began to cooperate closely with Soviet leader Mikhail Gorbachev–they even became friends–and negotiated large-scale disarmament projects. The Cold War was fading away and suddenly ended as the Soviets lost control of Eastern Europe almost overnight in October 1989, nine months after Reagan was replaced in the White House by his vice president George H. W. Bush, who was following Reagan's policies. The Soviet Union itself was dissolved in December 1991. In terms of the Reagan doctrine, he promoted military, financial, and diplomatic support for anti-Communist insurgencies in Afghanistan, Nicaragua, and numerous other countries. For the most part, local communist power collapsed when the Soviet Union collapsed.
The Metric Conversion Act of 1975 is an Act of Congress that U.S. President Gerald Ford signed into law on December 23, 1975. It declared the metric system "the preferred system of weights and measures for United States trade and commerce", but permitted the use of United States customary units in all activities. As Ford's statement on the signing of the act emphasizes, all conversion was to be "completely voluntary". The Act also established the United States Metric Board with representatives from scientific, technical, and educational institutions, as well as state and local governments to plan, coordinate, and educate the U.S. people for the Metrication of the United States.
The Trade and Tariff Act of 1984 clarified the conditions under which unfair trade cases under Section 301 of the Trade Act of 1974 can be pursued. It also provided bilateral trade negotiating authority for the U.S.-Israel Free Trade Agreement and the U.S.-Canada Free Trade Agreement, and set out procedures to be followed for congressional approval of future bilateral trade agreements.
The Reagan era or Age of Reagan is a periodization of recent American history used by historians and political observers to emphasize that the conservative "Reagan Revolution" led by President Ronald Reagan in domestic and foreign policy had a lasting impact. It overlaps with what political scientists call the Sixth Party System. Definitions of the Reagan era universally include the 1980s, while more extensive definitions may also include the late 1970s, the 1990s, the 2000s, the 2010s, and even the 2020s. In his 2008 book, The Age of Reagan: A History, 1974–2008, historian and journalist Sean Wilentz argues that Reagan dominated this stretch of American history in the same way that Franklin D. Roosevelt and his New Deal legacy dominated the four decades that preceded it.
The line-item veto, also called the partial veto, is a special form of veto power that authorizes a chief executive to reject particular provisions of a bill enacted by a legislature without vetoing the entire bill. Many countries have different standards for invoking the line-item veto if it exists at all. Each country or state has its own particular requirement for overriding a line-item veto.
The Omnibus Budget Reconciliation Act of 1981 is the federal budget enacted by the 97th United States Congress and signed into law by U.S. President Ronald Reagan. The bill established federal expenditures for fiscal year 1982, which ran from 1 October 1981 through 30 September 1982. The budget bill was the spending counterpart to the revenue bill, the Economic Recovery Tax Act of 1981. The two bills progressed through Congress and were signed by the President together.
