Reykjavík Summit productive discussion for the first time. An agreement by Gorbachev to on-site inspections, a continuing American demand which had not been achieved in the Partial Test Ban Treaty of 1963 or the ABM and SALT I pacts of 1972, constituted a significant step forward. Despite its apparent failure, participants and observers have referred to the summit as an enormous breakthrough which eventually facilitated the INF Treaty (Intermediate-Range Nuclear Forces Treaty), signed at the Washington Summit on 8 December 1987. Reykjavík Summit The Reykjavík Summit was a summit meeting between U.S. President Ronald Reagan and General Secretary of the Communist Party
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