The Tax Reform Act of 1986 Preserved the tax advantage of annuities but curtailed deductions for IRAs. Allowed whole life insurance policies to be sold. Identified annuities to be the same as certificates of deposit. Allowed annuities to be purchased for individual retirement accounts. Made all annuities tax free.

Preserved the tax advantage of annuities but curtailed deductions for IRAs.

Explanation:

The 99th US Congress passed The Tax Reform Act of 1986 and it was signed into law on the 22nd of October, 1986 by President Ronald Reagan. Hence, it was one of President Reagan's tax cut.

The Tax Reform Act of 1986 preserved the tax advantage of annuities but curtailed deductions for individual retirement accounts (IRAs). The Act was primarily focused on boosting the fairness and providing an avenue for improved growth and development in the economy of the United States of America. Also, it restricted the deductions made by the individual retirement accounts (IRAs) and allowed employees in the United States of America to contribute 15% of the income earned.

apart from being against desegregation, governor of georgia eugene talmadge opposed as well to the work progress administration, an ambitious program of the "new deal" created by president franklin d. roosevelt to overcome the great depression after world war i. talmadge disagreed with welfare spending, job training and organized labor. according to his ideas, he thought the government was spending too much money on this, and he wasn't willing to accept a wage higher than georgia's lower average wage. besides, talmadge strongly opposed to the "new deal" as he thought it had communist ideas.