Legislation: Economic Recovery Tax Act
August 13,1981
Political

POLITICAL EVENT

Also known as the Kemp-Roth Tax Cut, the Economic Recovery Tax Act was one of three major tax bills enacted during Dole’s chairmanship of the Senate Finance Committee (1981-1985). Sponsored by Representative Jack Kemp (R-NY) and Senator William Roth (R-DW), this act provided a 25 percent across-the-board cut in personal marginal tax rates. This act was followed in 1982 by the Tax Equity and Fiscal Responsibility Act and the 1983 Social Security Amendments.