Reagan followed his 1981 tax cuts with the Tax Reform Act of 1986, which sought to eliminate deductions, lower marginal rates for the wealthy, and significantly raise taxes on those earning less than $ 50, 000 In 1982 Reagan agreed to a rollback of corporate tax cuts and a smaller rollback of individual income tax cuts.

With the Tax Reform Act of 1986, Reagan and Congress sought to raise taxes on lower incomes, eliminate many deductions, and reduce tax rates on the wealthy.

# REDIRECT Tax Reform Act of 1986

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 eliminate many tax shelters and other preferences.

The Tax Reform Act of 1986 was given impetus by a detailed tax-simplification proposal from President Reagan's Treasury Department, and was designed to be tax-revenue neutral because Reagan stated that he would veto any bill that was not.

As of 2012, the Tax Reform Act of 1986 was the most recent major simplification of the tax code, drastically reducing the number of deductions and the number of tax brackets.

However, the Tax Reform Act of 1986 greatly expanded the AMT to aim at a different set of deductions that most Americans receive.

* 1986 – Tax Reform Act of 1986,

of Revenue, 477 U. S. 1 ( 1986 ); Hughes v. Oklahoma, 441 U. S. 322 ( 1979 ); Oklahoma Tax Commission v. Jefferson Lines, Inc., 514 U. S. 175 ( 1995 ).

The Tax Reform Act of 1986 greatly reduced private activities that may be financed with tax-exempt bond proceeds.

Moynihan introduced Section 1706 of the Tax Reform Act of 1986, which cost certain professionals ( e. g., computer programmers, engineers, draftspersons, designers ) who depended on intermediary agencies ( consulting firms ) a self-employed tax status option, while other professionals ( e. g. accountants, lawyers ) continued to enjoy Section 530 exemptions from payroll taxes.

Through his position on the Senate Finance Committee, he was instrumental in building support for the passage of the Tax Reform Act of 1986.

Changes to the U. S. tax code affected by the Tax Reform Act of 1986 discouraged publishers from maintaining inventories of titles in their back lists, as they were taxed on warehoused books.

Congress instituted a two-tier Tax Credit incentive under the 1986 Tax Reform Act.

Under this program, created in the 1986 Tax Reform Act, the U. S. Treasury Department allocates tax credits to each state based on that states population.

The taxpayer protection pledge was created in 1986 by Americans for Tax Reform as part of the effort to protect the lower marginal tax rates of Reagan ’ s Tax Reform Act of 1986.

The Tax Reform Act of 1986 phased out the deduction for IRA contributions among higher-earning workers who are covered by an employment-based retirement plan.

On the backbenches from 1986 to 1990, Young was among the leaders of the rebellion within the Conservative Party against the implementation of the Poll Tax.

* 1986 – The Parliament of New Zealand passes the Homosexual Law Reform Act legalising homosexuality in New Zealand.

The 1986 creation of the Reform Party of Canada attracted some of the neo-liberals and social conservatives away from the Tory party, and as some of the neoconservative policies of the Mulroney government proved unpopular, some of the provincial-rights elements moved towards Reform as well.

Other fourth Labour government innovations included greater recognition of the Treaty of Waitangi through the Waitangi Tribunal, Homosexual Law Reform, the Constitution Act 1986 and the New Zealand Bill of Rights.

The Immigration Reform and Control Act of 1986, while tightening border controls, also provided the opportunity of naturalization for illegal aliens who had been in the country for at least four years.

* The Franciscan Spirituals and the Capuchin Reform, by Thaddeus MacVicar, Franciscan Institute Publications, 1986.

Before the passing of the Homosexual Law Reform Act in 1986, the Salvation Army was active throughout the country gathering signatures for a petition seeking to prevent the bill's passing.

* Homosexual Law Reform Act 1986 – legalised homosexual relations

* Maibaum M. " A ' progressive ' Jewish medical ethics: notes for an agenda " in Journal of Reform Judaism 1986 ; 33 ( 3 ): 27-33.

Other private member's bills to have been enacted include the Adoption Act 1964, the Murder ( Abolition of Death Penalty ) Act 1965, the Charter Trustees Act 1986, the Law Reform ( Year and a Day Rule ) Act 1996, the Knives Act 1997, the British Nationality ( Hong Kong ) Act 1997, the Female Genital Mutilation Act 2003, the Gangmasters ( Licensing ) Act 2004, the Sustainable Communities Act 2006.

In May 2006, hundreds of thousands of undocumented immigrants, Mexicans and other nationalities, walked out of their jobs across the country in protest to support immigration reform ( many in hopes of a path to citizenship similar to the Immigration Reform and Control Act of 1986, which granted citizenship to Mexican nationals living and working without documentation in the US ).

Second, it is " merely an interpretative provision ", operating to ensure that references to " the Queen " in the Constitution are references to whoever may at the time be the incumbent of the " sovereignty of the United Kingdom " as determined with regard to Australia, following the Australia Act 1986, by Australian law.

Or, third, it incorporates the United Kingdom rules of succession into the Commonwealth of Australia Constitution Act, which itself can now be altered only by Australia, according to the Australia Act 1986 ; in that way, the British rules of succession have been patriated to Australia and, with regard to Australia, are subject to amendment or repeal solely by Australian law.

It is created by section 3 of the Public Order Act 1986 which provides:

Current law in England and Wales derives in large part from the Insolvency Act 1986.

The management of a number of societies still felt that they were unable to compete with the banks, and a new Building Societies Act was passed in 1986 in response to their concerns.

The deregulating 1986 Building Societies Act contained an anti-carpet bagger provision in the form of a two year rule.

Morris himself became the first person tried and convicted under the 1986 Computer Fraud and Abuse Act.

In India, the Consumer Protection Act 1986 clearly differentiates a consumer as consuming a commodity or service either for his personal domestic use or to earn his livelihood.

The government has recovered nearly $ 22 billion under the False Claims Act between 1987 ( after the significant 1986 amendments ) and 2008.

After the 1986 amendments strengthening the Act were passed ( see below ), the Act was used primarily against defense contractors.

The Hughes Amendment to the Firearm Owners Protection Act now prohibits United States civilian ownership or transfer of automatic weapons unless they were registered before May 19, 1986.

The Greater London Council was abolished in 1986 by the Local Government Act 1985.

Examples of this have been the Flags Act ( 1953 ), the Royal Styles and Titles Acts ( 1953 and 1973 ), and the Australia Act ( 1986 ).

However, the post still ultimately represented the government of the United Kingdom until, after continually decreasing involvement by the British government, the passage in 1942 of the Statute of Westminster Adoption Act 1942 ( see Statute of Westminster ) and the Australia Act 1986, whereafter the governor became the direct, personal representative of the uniquely Australian sovereign.

California, on the other hand, operates under the Civil Discovery Act of 1986 ( a revision of an older 1957 act ), which is codified in the California Code of Civil Procedure.

The Victorian Mental Health Act ( 1986 ) specifies in part that:

In the United Kingdom, the process known in the United States as involuntary commitment is informally known as " detaining " or " sectioning ," using various sections of the Mental Health Act 1983 ( covering England and Wales ), the Mental Health ( Northern Ireland ) Order 1986 and the Mental Health ( Care and Treatment ) ( Scotland ) Act 2003 that provide its legal basis.

* 1989 – A federal grand jury indicts Cornell University student Robert T. Morris, Jr. for releasing the Morris worm, thus becoming the first person to be prosecuted under the 1986 Computer Fraud and Abuse Act.

Money laundering has been criminalized in the United States since the Money Laundering Control Act of 1986.