Revenue Act of 1964

The United States Revenue Act of 1964 (Pub. L. 88–272), also known as the Tax Reduction Act, was a tax cut act proposed by President John F. Kennedy, passed by the 88th United States Congress, and signed into law by President Lyndon B. Johnson. The act became law on February 26, 1964. Kennedy proposed the bill on the advice of Keynesian economist Walter Heller, who believed that temporary deficit spending would boost economic growth.