In the end, the government met the postal workers' wage demands, undoing some of the desired budget-balancing.In December 1969, Nixon somewhat reluctantly signed the Tax Reform Act of 1969 despite its inflationary provisions; the act established the alternative minimum tax, which applied to wealthy individuals who used deductions to limit their tax liabilities. In 1970, Congress granted the president the power to impose wage and price controls, though the Democratic congressional leadership, knowing Nixon had opposed such controls through his career, did not expect Nixon to actually use the authority. With inflation unresolved by August 1971, and an election year looming, Nixon convened a summit of his economic advisers at Camp David. While not opposed to the goals of the legislation, Nixon objected to the amount of money to be spent on reaching them, which he deemed excessive. Faced as he was with a generally liberal Democratic Congress, Nixon used his veto power on multiple occasions during his presidency.