What Did The Revenue Act Of 1913 Do

The revenue act of 1913 also known as the tariff act the underwood tariff the underwood act the underwood tariff act or the underwood simmons act ch.

What did the revenue act of 1913 do. The income tax rates of the revenue act of 1862 were later increased with the revenue act of 1864. 16 re established a federal income tax in the united states and substantially lowered tariff rates wikipedia. They are similar in scope and neither article is very long. Markles 19 59 11 july 2006 utc i agree.

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. The 1913 federal reserve act is u s. 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 The income tax was later repealed in 1872 and reintroduced in 1913 with the ratification of the.

The revenue act of 1913 also known as the underwood tariff or the underwood simmons act ch. 1 congress developed the federal reserve act to establish economic stability in the united states. Merger from underwood tariff to revenue act of 1913. Therefore i suggest they be merged together under revenue act of 1913 with the tariff becoming a section of it.

16 38 stat 114 october 3 1913 re imposed the federal income taxafter the ratification of the sixteenth amendmentand lowered basic tariffrates from 40 to 25 well below the payne aldrich tariff actof 1909. 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. The act was sponsored by representative oscar underwood passed by the 63rd united states congress and signed into law by president woodrow wilson. The underwood tariff was part of the revenue act of 1913.