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Cutting the Deficit $5 Billion Without Hiking Taxes

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Publication Date: August 1986

Publisher(s): Heritage Foundation (Washington, D.C.)

Author(s): Stephen Moore

Topic: Banking and finance (Public finance)

Keywords: Budget

Type: Report


Over the past three months Congress has conjured up a number of ingenious ploys to prod Ronald Reagan into accepting new taxes. In each case he has kept his 1984 campaign promise and steadfastly refused to play ball with the pro-tax lobby. The $5 billion contingency fund is Congress's desperation move to tempt Reagan into accepting new taxes. Again he must refuse, and instead, call for financing the fund through the revenue from user fees and reductions on the spending side of the budget equation.