The economic effects of the Tax Reform Act of 1986
AJ Auerbach, J Slemrod - Journal of Economic Literature, 1997 - JSTOR
Journal of Economic Literature, 1997•JSTOR
THE TAX REFORM ACT of 1986 (TRA86) constituted the most sweeping change in the US
federal income tax since it became a tax that applied to most citizens during World War II. Its
impact was felt not only at home, but in other countries as well, through economic spillovers
of the tax changes themselves and the intellectual spillovers of the tax reform movement,
both of which contributed to a world-wide pattern of tax reforms modeled on TRA86.(See
John Whalley, 1990, for further discussion.) Signed into law by President Reagan in …
federal income tax since it became a tax that applied to most citizens during World War II. Its
impact was felt not only at home, but in other countries as well, through economic spillovers
of the tax changes themselves and the intellectual spillovers of the tax reform movement,
both of which contributed to a world-wide pattern of tax reforms modeled on TRA86.(See
John Whalley, 1990, for further discussion.) Signed into law by President Reagan in …
THE TAX REFORM ACT of 1986 (TRA86) constituted the most sweeping change in the US federal income tax since it became a tax that applied to most citizens during World War II. Its impact was felt not only at home, but in other countries as well, through economic spillovers of the tax changes themselves and the intellectual spillovers of the tax reform movement, both of which contributed to a world-wide pattern of tax reforms modeled on TRA86.(See John Whalley, 1990, for further discussion.)
Signed into law by President Reagan in October, 1986, the Act was the culmination of more than two years of intense debate about its political and economic merits. Its focus, to quote the title of the Treasury's November, 1984 report which formed its basis, was" Fairness, Simplicity, and Economic Growth." In more fa-miliar economic jargon, one might say that the Act was intended to make the tax system more equitable and to reduce the social cost of compliance as well as
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