Sabotaging the Tax Cut

Publication Date: July 1982

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

Author(s): Thomas M. Humbert

Research Area: Banking and finance

Keywords: Taxes

Type: Brief

Coverage: United States

Abstract:

It took an agonizing legislative battle last year to enact the Reagan Economic Recovery Act which sharply cuts marginal tax rates. Now Congress is flirting with measures that would destroy a major part of the Reagan program for economic recovery. The Senate Finance Committee has adopted a package of tax incrases that abandons the incentive-enhancing tax strategy at the core of Reaganomics.