To cut (throught) the red tape = to go around/circumvent legal obstacles in order to achieve something. (I expected difficulties, but my friend who is a lawyer helped me cut through the red tape.)
To reverse the trend = to change a trend, pattern, or popular thing so that the opposite/contrary happens. (Unemployment rates keep going up, but the mayor hopes that this new tax incentive will reverse the trend.)
To bring in legislation = to propose/introduce a new law. (The democrats have brought in legislation to combat the rise in unemployment.)