Gramm–Latta Budget

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The Gramm–Latta Budget was a landmark 1981 U.S. federal budget package that implemented President Ronald Reagan’s early economic agenda, featuring major tax cuts and reductions in domestic spending.

All labels observed (2)

Label Occurrences
Gramm–Latta Budget canonical 2
Gramm–Latta budget package 1

How this entity was disambiguated

Statements (47)

Predicate Object
instanceOf United States federal budget ⓘ
budget reconciliation package ⓘ
landmark economic policy ⓘ
aimedAt reducing growth of federal government ⓘ
reducing inflation and unemployment through supply-side measures ⓘ
stimulating economic growth ⓘ
appliesToJurisdiction United States federal government ⓘ
architect Ronald Reagan ⓘ
chronology early Reagan administration ⓘ
country United States ⓘ
describedAs cornerstone of Reagan’s first-term economic program ⓘ
fiscalYear Fiscal Year 1982 ⓘ
followedBy subsequent Reagan-era budget packages ⓘ
hasEffect contributed to federal budget deficits in the 1980s ⓘ
increased defense spending trajectory ⓘ
large projected federal revenue reductions ⓘ
major federal income tax cuts ⓘ
reductions in domestic discretionary spending ⓘ
reductions in some social welfare programs ⓘ
hasPart Economic Recovery Tax Act of 1981 ⓘ
Omnibus Budget Reconciliation Act of 1981 ⓘ
implemented across-the-board individual income tax rate cuts ⓘ
business tax incentives ⓘ
reductions in non-defense domestic programs ⓘ
supply-side economic principles ⓘ
influenced subsequent U.S. tax and budget debates in the 1980s ⓘ
legislativeBody United States House of Representatives ⓘ
United States Senate ⓘ
legislativeProcess budget reconciliation ⓘ
locationOfLegislativeProcess Washington, D.C. ⓘ
namedAfter Delbert Latta ⓘ
Phil Gramm ⓘ
notableFeature large, rapid tax reductions combined with spending cuts ⓘ
shift in federal priorities toward defense and tax relief ⓘ
opposedBy Democratic Party (United States) ⓘ
linked to: Democratic Party
partOf Reaganomics ⓘ
pointInTime 1981 ⓘ
policyArea budgetary policy ⓘ
fiscal policy ⓘ
tax policy ⓘ
precededBy Carter administration budgets ⓘ
proposedBy Ronald Reagan ⓘ
significantEvent early legislative victory for Ronald Reagan ⓘ
sponsor Delbert Latta ⓘ
Phil Gramm ⓘ
supportedBy Republican Party (United States) ⓘ
linked to: Republican Party
timePeriod Reagan Revolution ⓘ

How these facts were elicited

Referenced by (3)

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

97th United States Congress → enacted → Gramm–Latta Budget ⓘ
Omnibus Budget Reconciliation Act of 1981 → relatedTo → Gramm–Latta budget package ⓘ
linked to: Gramm–Latta Budget