Economic Recovery Tax Act of 1981

E79882

United States federal statute tax reform law

The Economic Recovery Tax Act of 1981 was a major U.S. federal law that sharply reduced income tax rates and accelerated depreciation in an effort to stimulate economic growth under President Ronald Reagan’s supply-side economic program.

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All labels observed (4)

Label	Occurrences
Economic Recovery Tax Act of 1981 canonical	7
Kemp–Roth Tax Cut	3
Internal Revenue Code amendments of 1981	1
Reagan tax cuts	1

Statements (48)

Predicate	Object
instanceOf	United States federal statute ⓘ tax reform law ⓘ
administration	Reagan administration ⓘ
affected	Internal Revenue Code ⓘ surface form: Internal Revenue Code of 1954
aimedTo	stimulate economic growth ⓘ
alsoKnownAs	ERTA ⓘ Economic Recovery Tax Act of 1981 ⓘ surface form: Kemp–Roth Tax Cut
appliesTo	federal income tax ⓘ
branchOfGovernment	legislative branch ⓘ
context	post-1970s stagflation ⓘ
country	United States of America ⓘ surface form: United States
dateSigned	1981-08-13 ⓘ
economicPolicyType	supply-side economics ⓘ
followedBy	Tax Equity and Fiscal Responsibility Act of 1982 ⓘ
ideologicalBasis	Reaganomics ⓘ trickle-down economics ⓘ
introducedBy	Jack Kemp ⓘ William Roth ⓘ
jurisdiction	United States government ⓘ surface form: federal government of the United States
legislativeBody	United States Congress ⓘ
partOf	Economic Recovery Tax Act of 1981 self-linksurface differs ⓘ surface form: Reagan tax cuts
policyFeature	accelerated depreciation for business investment ⓘ across-the-board individual income tax rate cuts ⓘ expanded Individual Retirement Accounts ⓘ increased estate and gift tax exemptions ⓘ indexation of individual income tax brackets (phased in later) ⓘ introduction of the Accelerated Cost Recovery System ⓘ reduced capital gains tax rate ⓘ small business tax incentives ⓘ
policyGoal	encourage saving and investment ⓘ increase work incentives ⓘ promote long-term economic growth ⓘ
presidentDuringEnactment	Ronald Reagan ⓘ
publicLawNumber	Public Law 97-34 ⓘ
reduced	individual income tax rates ⓘ marginal income tax rates ⓘ
sectorImpacted	businesses ⓘ capital markets ⓘ households ⓘ
shortTitle	Economic Recovery Tax Act of 1981 self-link ⓘ
signedBy	Ronald Reagan ⓘ
sponsoredInHouseBy	Jack Kemp ⓘ
sponsoredInSenateBy	William Roth ⓘ
subjectMatter	macroeconomic policy ⓘ taxation ⓘ
timePeriod	early 1980s ⓘ
title	Economic Recovery Tax Act of 1981 self-link ⓘ
yearEnacted	1981 ⓘ

Referenced by (12)

Full triples — surface form annotated when it differs from this entity's canonical label.

Reaganomics → implementedThrough → Economic Recovery Tax Act of 1981 ⓘ

Economic Recovery Tax Act of 1981 → alsoKnownAs → Economic Recovery Tax Act of 1981 ⓘ

this entity surface form: Kemp–Roth Tax Cut

Economic Recovery Tax Act of 1981 → title → Economic Recovery Tax Act of 1981 self-link ⓘ

Economic Recovery Tax Act of 1981 → shortTitle → Economic Recovery Tax Act of 1981 self-link ⓘ

Economic Recovery Tax Act of 1981 → partOf → Economic Recovery Tax Act of 1981 self-linksurface differs ⓘ

this entity surface form: Reagan tax cuts

97th United States Congress → enacted → Economic Recovery Tax Act of 1981 ⓘ

ERTA → alsoKnownAs → Economic Recovery Tax Act of 1981 ⓘ

subject surface form: Economic Recovery Tax Act of 1981

this entity surface form: Kemp–Roth Tax Cut

ERTA → legalCitation → Economic Recovery Tax Act of 1981 ⓘ

subject surface form: Economic Recovery Tax Act of 1981

this entity surface form: Internal Revenue Code amendments of 1981

Public Law 97-34 → officialName → Economic Recovery Tax Act of 1981 ⓘ

Public Law 97-34 → alsoKnownAs → Economic Recovery Tax Act of 1981 ⓘ

this entity surface form: Kemp–Roth Tax Cut

Omnibus Budget Reconciliation Act of 1981 → relatedTo → Economic Recovery Tax Act of 1981 ⓘ

Omnibus Budget Reconciliation Act of 1982 → relatedTo → Economic Recovery Tax Act of 1981 ⓘ