<u>Lowering income taxes</u> was the Reagan's plan for pulling the United States out of its economic slump.
<u>Explanation</u>:
An economic slump refers to the depression due to unemployment. Economic slump causes downturn in economy of the nation.
Ronald Reagan was 40th president of United Nation of America. Reagan planned and executed many new ideas to overcome the economic slump. Reagan decided to lower the income taxes which would help the nation to come out of its economic slump.
Inflation was reduced by reducing government regulation, capital gains tax and tightening the money supply.
