Reagan Policies Flashcards
1
Q
Economic recovery act 1981
A
Cut marginal income by 23% over three years. Links the tax bands to inflation.
2
Q
Omnibus budget reconciliation act 1981
A
Proposes tax cuts that would take $35 billion out of Federal spending.
3
Q
Tax reform act 1986
A
Revises the tax code by reducing the amount of tax brackets. It aimed to make evasion harder and reduce the tax burden on low income families.
