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Including increases in base discretionary spending, the Defense level in the bill is $8 billion above the rate in the current Continuing Resolution. Natural Disaster Relief â The CR contains $4.1 billion in disaster relief funding to address damages cause by recent natural disasters, including Hurricane Matthew, floods, drought, and other severe weather events.
It passed Congress on August 4, 1981, and was signed into law on August 13, 1981, by President Ronald Reagan at Rancho del Cielo, his California ranch. This bill and the Tax Reform Act of 1986 are known together as the Reagan tax cuts.fter peaking in 1986 at $221 billion the deficit fell to $152 billion by 1989. Supporters of the tax cuts also argue, using the Laffer curve, tax cuts increased economic growth and government revenue.