Lawmakers Staging Sequel to 1986 Tax Law Will Need New Ideas

Lawmakers Staging Sequel to 1986 Tax Law Will Need New Ideas

U.S. President Ronald Reagan signs the Tax Reform Act on October 22, 1986. The guiding principle of the 1986 tax overhaul was that rates could be lowered if a host of tax benefits were eliminated and the base was broadened. Repeating that scenario would be more difficult today. Photo: Ronald Reagan Library