Under Iacocca’s leadership, Chrysler reversed its
poor fortune. In 1983, Chrysler repaid its guaran-
teed loan in full, and shortly thereafter the once
nearly defunct automobile company realized a $2.4
billion profit. In 1984, Iacocca cowroteIacocca: An
Autobiography, which became an instant success. With
the company out of debt, Iacocca put some of Chrys-
ler’s profits to work when in 1985, he spent more
than $750 million to acquire Gulfstream Aerospace
Corporation and E. F. Hutton Credit Corporation.
His success at Chrysler and his national visibility and
celebrity status hurled him into the spotlight as a
potential U.S. presidential candidate in 1988.
During the last few years of the 1980’s, Iacocca’s
iconic status was slightly tarnished, after his $18 mil-
lion compensation package created a stir among
critics who believed that executive compensation
was excessive, especially in the light of the threat to
the U.S. industry posed by Japanese imports.
Impact Lee Iacocca restored pride in American au-
tomobiles. He returned Chrysler to a position of
prominence as an American car manufacturer and
convinced the American public to purchase Chrys-
ler products.
Further Reading
Iacocca, Lee, with William Novak.Iacocca: An Autobi-
ography. New York: Bantam, 1984.
Levin, Doron P.Behind the Wheel at Chr ysler: The
Iacocca Legend.New York: Harcourt, Brace, 1995.
Joseph C. Santora
See also Business and the economy in the United
States; Chrysler Corporation federal rescue; Rea-
gan, Ronald; Reaganomics; Statue of Liberty resto-
ration and centennial.
Immigration Reform and
Control Act of 1986
Identification Federal legislation
Date Signed into law on November 6, 1986
The Immigration Reform and Control Act was enacted to
control illegal immigration to the United States, especially
that from Mexico. Among its other provisions, it created
sanctions against anyone employing illegal immigrants.
During the second half of the twentieth century, the
number of people immigrating to the United States,
both legally and illegally, increased. Mexican immi-
gration contributed significantly to this pattern. The
United States had begun officially encouraging
Mexican laborers to enter the country in 1942, when
it instituted the bracero program to ensure that
there were enough agricultural laborers to work
U.S. farms during World War II. The program con-
tinued to bring Mexican contract workers to the
United States until it was discontinued in 1964, and
it helped establish a pattern in which most Mexican
immigrants to the country became agricultural la-
borers. Despite the bracero program’s official end,
Mexicans continued to come to the United States. In
fact, the 1970’s and the 1980’s saw a sharp increase in
Mexican immigration. Many people continued to
come from Mexico specifically to work in agricul-
tural jobs, even those who, in the absence of the bra-
cero program, could no longer do so legally.
The 1980’s saw a shift in immigration patterns.
Mexican immigrants started to move to U.S. cities,
becoming urban dwellers. Previously, their agricul-
tural occupations had led them to settle in rural
areas. The way that Mexican immigrants were
viewed by the U.S. government also began to change
through the 1970’s and into the 1980’s. As more im-
migrants bypassed U.S. customs stations and border
guards to enter the country illegally, the govern-
ment became more concerned. Because Mexico
and the United States share a long border, Mexico
became a primary focus of that concern. Many peo-
ple were able to cross the border without encounter-
ing a U.S. immigration officer or undergoing any
sort of inspection. Such illegal immigration increased
sharply in the 1970’s and the 1980’s.
The White House, Congress, a select commission,
and numerous task forces began seriously to address
illegal immigration as early as the 1970’s. The Immi-
gration Reform and Control Act (IRCA) of 1986 rep-
resented a culmination of this activity. The IRCA was
passed in the closing days of the 1986 congressional
session. The primary purpose of the act was to re-
move from the U.S. labor market those immigrants
not legally entitled to participate in it. The primary
sponsors of the IRCA were Republican senator Alan
Simpson of Wyoming and Democratic representa-
tive Romano Mazzoli of Kentucky.
Known in its early years as the Simpson-Mazzoli
Act, the IRCA enacted two primary policy instru-
ments. First, it granted legal status to certain illegal
immigrants—those who could prove to the Immi-502 Immigration Reform and Control Act of 1986 The Eighties in America