The Revenue Act Of 1913

Section ii levies the income tax.

The revenue act of 1913. October 3 is the 100th anniversary of the revenue act of 1913 and with it the first federal income tax of the 20th century. Lincoln levied the first federal income tax by signing the revenue act. The law is often trotted out in tax reform discussions especially by those convinced that the modern tax regime has strayed from its origins. The underwood tariff aka revenue act of 1913 or the underwood simmons act was a federal law passed during the era of the progressive movement that substantially reduced the average tariff on imported goods.

114 re established a federal income tax in the united states and substantially lowered tariff rates. The act was sponsored by representative oscar underwood passed by the 63rd united states congress and signed into law by president woodrow wilson. The revenue act of 1913 also known as the underwood tariff or the underwood simmons act re established a federal income tax in the united states and substantially lowered tariff rates. The 16th amendment which gave congress the power to levy an income tax became part of the constitution in 1913.

Wilson and other members of the democratic party had long seen high tariffs as equivalent to unfair taxes on consumers and tariff reduction was president wilson s. 114 re established a federal income tax in the united states and substantially lowered tariff rates. The revenue act of 1913 also known as the underwood tariff or the underwood simmons act ch. The united states revenue act of 1913 also known as the tariff act underwood tariff or underwood simmons act ch.

16 usstat 38 116 october 3 1913 re imposed the federal income tax following the ratification of the sixteenth amendment and lowered basic tariff rates from 40 to 25 well below the payne aldrich tariff act of 1909. The act was sponsored by representative oscar underwood passed by the 63rd united states. The underwood tariff act of 1913 decreased the tax by ten percent. The revenue act of 1913 also known as the underwood tariff or the underwood simmons act ch.

Needing cash with which to fund the civil war abraham lincoln and the congress agreed to impose a 3 percent tax on annual incomes over 800 00.