Ronald Reagan, originally an American actor and politician, became the 40th President of the United States serving from 1981 to 1989. In 1986 Reagan obtained an overhaul of the income tax code, which eliminated many deductions and exempted millions of people with low incomes. In foreign policy, Reagan sought to achieve “peace through strength.” During his two terms, he increased defense spending by 35 percent but sought to improve relations with the Soviet Union.

Source: White House