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@techreport{NBERw4395,
 title = "Presidential Leadership and the Reform of Fiscal Policy: Learning from Reagan's Role in TRA 86",
 author = "Inman, Robert P",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "4395",
 year = "1993",
 month = "July",
 doi = {10.3386/w4395},
 URL = "http://www.nber.org/papers/w4395",
 abstract = {The institutions of federal fiscal-policy making seem incapable of confronting the central domestic issues of the day. This paper presents a model of congressional decision-making in which legislators' incentives are contrary to fiscal efficiency. In such an environment, a "strong" president may be able to lead congress away from inefficient budgets. The paper specifies a model of what constitutes a strong president, namely a president with resources to build congressional coalitions and a credible veto to force "all-or-nothing" choices between reform and the inefficient status quo. President Reagan's role in the passage of the Tax Reform Act of 1986 is detailed in the light of this model; the analysis reveals the role of executive resources and the importance of the veto strategy to major fiscal reform.},
}