The presidency of Ronald Reagan began at noon EST on January 20, 1981, when Ronald Reagan was inaugurated as 40th President of the United States, and ended on January 20, 1989. Reagan, a Republican, took office following a landslide victory over Democratic incumbent President Jimmy Carter in the 1980 presidential election. Reagan was succeeded by his Vice President, George H. W. Bush, who won the 1988 presidential election with Reagan's support.
Domestically, the Reagan administration enacted a major tax cut, sought to cut non-military spending, and eliminated federal regulations. The administration's economic policies, known as "Reaganomics", were inspired by supply-side economics. The combination of tax cuts and an increase in defense spending led to budget deficits, and the federal debt increased significantly during Reagan's tenure. Reagan signed the Tax Reform Act of 1986, which simplified the tax code by reducing rates and removing several tax breaks, as well as the Immigration Reform and Control Act of 1986, which enacted sweeping changes to U.S. immigration law and granted amnesty to three million illegal immigrants. Reagan also appointed more federal judges than any other president, including four Supreme Court Justices.