Question

The Economic Recovery Tax Act of 1981 increased taxes on businesses. Please select the best answer from the choices provided

Answer 1

False, in fact the taxes were lowered for businesses. 

Answer 2

Answer:

b. False

Explanation:

In fact, the Economy Recovery Tax Act of 1981 is known as: "a major tax cut designed to encourage economic growth."

It was signed into law by the then-President Ronald Reagan. It is said that its main goal was to encourage economic growth, reduce tax rates for the common folk, and to act as an incentive for people to save money or invest.