Economic Recovery Tax Act

August 13, 1981

Ronald Reagan signed the Economic Recovery Tax Act, a major tax-reform bill based on “supply side economics,” cutting taxes and regulations. The act implemented an across-the-board tax cut for individuals, reduced the maximum income tax rate, lowered capital gains and estate taxes, and expanded individual retirement accounts.

Metadata

Keywords: Reaganomics, supply side economics, trickle down economics
Coverage People: Ronald Reagan
Coverage Events: Economic Recovery Tax Act

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