Explore the Economic Recovery Tax Act of 1981, its impact on tax rates, Reaganomics, and fiscal challenges. Discover how it reshaped U.S. economic policy.
President Ronald Reagan pushed massive tax cuts through Congress shortly after taking office in 1981. But when the country’s budget started bleeding red ink, Reagan reversed course and raised taxes in ...
When Barack Obama was president, congressional Republicans were deficit hawks. They opposed almost everything Obama wanted to do by arguing that it would increase the federal budget deficit. But now ...