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Tax Reform Act of 1986 facts for kids

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Reagan Tax
President Ronald Reagan signs the Tax Reform Act of 1986 on the South Lawn.

The U.S. Congress passed the Tax Reform Act of 1986 (TRA) to simplify the income tax code, broaden the tax base and take away many tax shelters and other preferences. It was part of a set of bills known as the "Reagan tax cuts".

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Tax Reform Act of 1986 Facts for Kids. Kiddle Encyclopedia.