Keyword Analysis & Research: omnibus budget reconciliation act 1980

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What is the Omnibus Reconciliation Act of 1980?

The Omnibus Reconciliation Act was passed by Congress in December, 1980. Contained in the Act are a number of changes in the sections relating to home health care in Title XVIII of the Social Security Act. These are scheduled to go into effect on July 1, 1981.

What are some well-known omnibus budget acts?

Here are the most well-known omnibus budget acts, listed in chronological order. The Omnibus Budget Reconciliation Act of 1981 is also "called Gramm-Latta II" for short. Congress combined it with the Economic Recovery Tax Act of 1981 and President Reagan's first budget for Fiscal Year 1982. The ERTA 1981 was also called the "Kemp-Roth Tax Cut."

How did the omnibus Budget Reconciliation Act of 1981 affect the deficit?

The Omnibus Budget Reconciliation Act of 1981 included steep increases in military spending, steep cuts in non-defense expenditures, and a large tax cut (legislated through ERTA 1981). Although the Reagan administration predicted that the combination of spending and tax cuts would reduce the federal deficit, the deficit exploded under Reagan.

What was the first budget of the Reagan administration?

The Omnibus Budget Reconciliation Act of 1981 (OBRA 1981 or Gramm-Latta II) and the Economic Recovery Tax Act of 1981 (ERTA 1981 or the Kemp-Roth Tax Cut) comprised the first budget of the administration of Ronald Reagan (for FY82).


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