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(C) Tax Analysts 2011. All rights reserved. Tax Analysts does not claim copyright in any public domain or third party content.
POLICY PERSPECTIVES
Legislation
1982 Tax Equity and Fiscal Responsibility
Act
Highway Revenue Act of 1982
Social Security Amendments of 1983
Railroad Retirement Revenue Act of 1983
Deficit Reduction Act of 1984
Consolidated Omnibus Budget
Reconciliation Act of 1985
Omnibus Budget Reconciliation Act of 1986
Superfund Amendments and
Reauthorization Act of 1986
Continuing resolution for 1987
Omnibus Budget Reconciliation Act of 1987
Continuing resolution for 1988
Total cumulative tax increase
Billions
of Dollars
$57.3
$4.9
$24.6
$1.2
$25.4
$2.9
$2.4
$0.6
$2.8
$8.6
$2.0
$132.7
12
I estimate that lower than expected inflation and the loss of
bracket creep were responsible for about half the budget deficit
in 1981 and 1982. Bartlett, The New American Economy 121 (2009).
13
Tempalski, supra note 11, at 16-17.
14
Douglas Brinkley, ed., The Reagan Diaries 96 (2007).
15
Reagan, There They Go Again, The New York Times, Feb.
18, 1993; Hurry Up and Wait, The Wall Street Journal, July 8,
1993.
966
(C) Tax Analysts 2011. All rights reserved. Tax Analysts does not claim copyright in any public domain or third party content.