Ronald Reagan was the 40th president of the United States, serving two terms from January 1981 to January 1989. A former actor and governor of California, he promoted conservative economic policies and a firm stance against the Soviet Union.
Reagan pursued supply-side economic policies—large tax cuts, deregulation, and shifts in spending—that helped lower inflation and stimulate growth but also coincided with rising federal deficits and greater income inequality.
On foreign policy he combined a military buildup and tough rhetoric toward the USSR with later diplomacy with Mikhail Gorbachev that advanced arms-control agreements; his presidency was also marred by the Iran–Contra affair.
Enacted major tax cuts with the Economic Recovery Tax Act of 1981; Pursued deregulation and conservative judicial appointments; Increased defense spending and advanced the Strategic Defense Initiative; Negotiated with Mikhail Gorbachev, contributing to U.S.–Soviet arms reductions; Re-elected in a 1984 landslide victory; Administration tarnished by the Iran–Contra affair
Key highlights and dated events associated with this presidency.
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President Reagan signed the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA), a major revenue and deficit-control bill that included tax increases and spending provisions.
On August 21, 1982, a U.S.-brokered agreement was reached for the Palestine Liberation Organization to withdraw its fighters and leadership from Beirut under international supervision.
On April 2, 1982 Argentine military forces invaded and occupied the Falkland Islands, triggering the Falklands War and creating an immediate diplomatic challenge for the Reagan administration.
President Reagan submitted his administration's FY 1983 federal budget to Congress, outlining higher defense spending alongside proposals to cut several domestic programs.
President Ronald Reagan delivered his 1982 State of the Union address to a joint session of Congress, outlining his economic priorities and defense policy for the coming year.
President Reagan publicly condemned General Wojciech Jaruzelski's declaration of martial law in Poland and called for the release of detained Solidarity activists.
President Reagan signed Executive Order 12333 on December 4, 1981, establishing a comprehensive framework for federal intelligence activities and assigning responsibilities across the intelligence community.
President Reagan issued a public statement condemning the assassination of Egyptian President Anwar Sadat and expressed condolences to the Egyptian people.
Sandra Day O'Connor took the oath of office and became the first woman to serve on the U.S. Supreme Court.
Belize became independent from the United Kingdom on September 21, 1981, and the United States under President Reagan formally recognized the new nation and established diplomatic relations.
The U.S. Senate voted to confirm President Ronald Reagan's nominee, Sandra Day O'Connor, to the Supreme Court on September 21, 1981.
President Reagan signed the Economic Recovery Tax Act (ERTA), enacting a major package of income-tax cuts—including a phased reduction of individual marginal rates.