In 1986 Congress passed and President Reagan signed a landmark and heroic piece of legislation: the 1986 Tax Reform Act. The 1986 TRA closed economically inefficient tax loopholes and dramatically reduced income tax rates for all Americans.
Now with regard to what the 1986 TRA was supposed to accomplish, wasn't it supposed to be revenue neutral with business taxes being increased in return for "dramatically reduc[ing] income tax rates for all Americans."