1.
To ~ a change or the power of something means to gradually reduce it or end it.
Environmentalists regard these moves as the government taking advantage of the national mood to ~ protective measures...
PHRASAL VERB: V P n (not pron), also V n P
see also rollback
2.
To ~ prices, taxes, or benefits means to reduce them. (mainly AM)
One provision of the law was to ~ taxes to the 1975 level.
PHRASAL VERB: V P n (not pron)