Former Senate Finance Committee Chairman Bob Packwood died earlier this week, but his legacy lives on. In 1986, the Oregon Republican was one of the architects of the miraculous Tax Reform Act of 1986, which lowered the top individual income tax rate from 50% to 28% and the corporate rate from 46% to 34%.

It eliminated special-interest loopholes, flattened tax rates, and passed with overwhelming bipartisan support with a vote of 97-3 in the Senate.

Look what happened with tax revenues during that period.

No one laughed at the Laffer Curve after that.

Here’s a link to our tribute in today’s Wall Street Journal: