Forty-two years ago today, on August 13, 1981, a momentous chapter in American economic history was written against the picturesque backdrop of President Ronald Reagan’s cherished Rancho del Cielo. It was here that President Reagan signed the Economic Recovery Tax Act (ERTA) into law. This landmark legislation, heralded as the most substantial tax reduction in the nation’s history, extricated the American economy from 1970s stagflation and propelled it towards the extraordinary boom of the 1980s.
The results of the Reagan tax cuts were resoundingly positive: unprecedented GDP growth, surging employment rates, and tamed inflation fostered national prosperity.
Today, President Reagan’s legacy is preserved by Young America’s Foundation at Rancho del Cielo. A premier Presidential site, the Ranch plays host to enlightening YAF conferences catering to thousands of middle school, high school, and college students. Amidst the rustic charm of Rancho del Cielo, young minds delve into the life, ideals, and resolute commitment of President Reagan towards a free society. They even get to sit right where he sat when he signed the 1981 tax cuts into law.
In 2013, YAF embarked on an ambitious educational initiative, launching the Center for Entrepreneurship & Free Enterprise to popularize free market ideas among young people. Today, the Center organizes crucial campus lectures, student conferences, educational resources, and immersive training sessions. These combined efforts ensure that the message championed by Ronald Reagan—of economic liberty as a cornerstone of a flourishing society—is understood and appreciated by the next generation.
Among the distinguished leaders involved in the Center’s efforts is Dr. Arthur Laffer. The “Father of Supply-Side Economics,” Dr. Laffer served on President Reagan’s Economic Policy Advisory Board for all eight years and played an instrumental role in shaping Reagan tax cuts.
Today, with the pendulum seemingly swinging towards socialism among young people, the essence encapsulated by Dr. Laffer and President Reagan in the ERTA assumes a renewed urgency. Together with leaders like Dr. Laffer, YAF’s Center for Entrepreneurship & Free Enterprise is uniquely positioned to change the hearts and minds of young people.
As YAF commemorates the anniversary of the Reagan tax cuts, we want to help you bring Dr. Arthur Laffer—or another one of our Center for Entrepreneurship & Free Enterprise speakers—to your campus to make the case for economic liberty. To learn more, contact Michael Mastrianna at [email protected] or 800-USA-1776.