Huge, historic tax cut on its way to Reagan
Washington — Congress completed action on President Reagan's historic economic program as the House of Representatives passed and sent to the White House his three-year, 25 percent tax cut.
The measure, approved on a 282-to- 95 vote, will cut individual and business taxes by a record $749 billion through 1986. Senate approval of the tax bill came Monday. House Democratic liberals unsuccessfully tried to sidetrack the measure at the last minute through a parliamentary move as a protest against the bill's tax reductions for the oil industry.The final bill could be on Mr. Reagan's desk for signature t oday (Aug. 5).