Presidency of Ronald Reagan to forestall the possibility of an agreement between the United States and the Soviet Union. Nonetheless, both Gorbachev and Reagan agreed to continue arms control negotiations at the October 1986 Reykjavík Summit. At the summit, Gorbachev and Reagan closed in on an agreement to greatly reduce or eliminate the nuclear stockpiles of both the U.S. and the Soviet Union over a ten-year period, but the deal collapsed due to disagreements regarding SDI development. Reagan attacked Gorbachev in a 1987 speech delivered in West Berlin, but negotiations continued. Gorbachev and Reagan broke the impasse by agreeing to negotiate separate treaties on
Presidency of Ronald Reagan programs and priorities that had dominated the national agenda since the 1930s. Domestically, the Reagan administration enacted a major tax cut, sought to cut non-military spending, and eliminated federal regulations. The administration's economic policies, known as "Reaganomics", were inspired by supply-side economics. The combination of tax cuts and an increase in defense spending led to budget deficits, and the federal debt increased significantly during Reagan's tenure. Reagan signed the Tax Reform Act of 1986 (which simplified the tax code by reducing rates and removing several tax breaks) and the Immigration Reform and Control Act of 1986 (which enacted sweeping changes