Letter to Representative Trent Lott, House Republican Whip, on Federal Tax and Budget Reconciliation Legislation
You know I strongly believe that enactment of the pending Conference Report on revenue and reconciliation is a price worth paying for lower interest rates, economic recovery, and more jobs. It is an essential element in the implementation of the Budget Resolution—which, if faithfully followed, will reduce deficits by $380 billion over three years.
This deficit reduction program is entirely consistent with our efforts to shrink the growth of government. It would involve almost $3 in outlay reduction for every $1 in revenue increase.
I recognize that there is some uncertainty about the ability to assure that future spending reductions will be achieved. But I am encouraged by the Congress' work on the pending reconciliation measures, which come very close to meeting their spending reduction targets. Further, I assure you that the Administration will not relax one bit in our continued pursuit of spending cuts.
I will, of course, resist any budget-busting spending measures that may come to my desk. And, lest there be any doubt on this point, I would ask you to remind your colleagues that as Governor of California I exercised the veto power successfully 993 times. I hope I will not have to use the veto so frequently here in Washington. But, for my part, I will—without reservation—do what has to be done to control spending.
Your support has been invaluable in the implementation of our program to date. With your continued strong leadership and support, we can continue to restrain government, as we restore America's strength and vitality.
Ronald Reagan, Letter to Representative Trent Lott, House Republican Whip, on Federal Tax and Budget Reconciliation Legislation Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/246067