4 Aug 1981 Jahr - Economic Recovery Tax Act of 1981

Beschreibung:

This act was passed by Congress on August 4 and signed into law by Reagan on August 13. It was the largest tax cut in the history of the United States, slashing the highest income tax bracket from 70% to 50%. Along with increased military spending, this act caused the US public debt to increase significantly. US debt actually tripled during Reagan’s presidency.