Reagans to Pay Less Tax, Magazine Says

President Reagan’s 1987 federal income tax bill will be about 15% lower than he paid in 1986, under tax legislation that he pushed through Congress, according to the current issue of Money magazine.

The magazine calculated that the President and Nancy Reagan will pay $78,450 on their 1987 income, down from $92,460 in 1986.

Article author Greg Anrig Jr. said the 1987 taxes were figured on the same income and deductions from the Reagans’ 1986 return.