The first time we had ‘one big, beautiful bill’ we called it Reaganomics

A photograph of a pinback button with the text “Reagan, Let’s Make America Great Again” from Ronald Reagan’s 1980 presidential campaign is shown in a close-up. The current situation in Capitol Hill is challenging for headline writers and TV chyron composers. They struggle to find the right term to describe the legislative process. President Trump’s phrase “one big, beautiful bill” has been adopted, becoming the proposed official name for the House legislation, with a casual acronym “OBBB” for short. The bill relies on special rules for budget reconciliation, allowing it to bypass the filibuster in the Senate. Reagan was the first president to utilize reconciliation in 1981, implementing significant changes to federal fiscal policy. His budget included tax cuts and defense spending increases, forming the basis of “Reaganomics” and the “Reagan Revolution.” The use of reconciliation has been crucial for various presidents in enacting key programs, such as parts of the Affordable Care Act and Trump’s tax cuts. The article also highlights the role of David Stockman, Reagan’s director of the Office of Management and Budget, in shaping Reagan’s budget and the challenges faced during its implementation. The article concludes by discussing the origins of the reconciliation process in the aftermath of Watergate and its significance in shaping presidential agendas.