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Levying an income tax
Wiki User
∙ 14y ago
Wiki User
∙ 9y agoThe Underwood Tariff Act of 1913 re-imposed the federal income tax. This was after the ratification of the 16th Amendment. The Act lowered the rates from 40 percent to 25 percent.
Wiki User
∙ 11y agoIt was an immediate reduction tariff, to make up for the loss of revenue, a temporary graduated income tax.
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What was an important section of the Underwood tariff?
levying income tax
What was the Underwood-Simmons Tariff of 1913?
The Underwood-Simmons Tariff of 1913 was a tariff reform and the first objective of President Wilson. It reduced average rates from 40 percent to 25 percent, enlarged the free list, and included a modest income tax.Another perspective:Of course Woodrow Wilson explained that he would NEVER enact a tariff that would put restraints on America Business. The Underwood-Simmons Tariff did just that. When it first was brought about by President Wilson on March 4, 1913 it immediately started to hurt businesses and the American economy. It almost brought America to it's knees after the 'great prosperity' of 1912. This tariff actually hurt businesses and the economy so much and so quickly that 'soup-kitchens' were opened for the first time in all the major cities of the U.S., cities from New York to Los Angeles. By 1914 this tariff caused over 4,000,000 (four million) people to be out of work. The only thing that saved America from this Tariff was the ability to go to War, (WWI). When the war ended Warren G. Harding was elected President and he started to break apart the Underwood-Simmons Tariff, he died almost two years into his Presidency and Calvin Coolidge, his V.P., became President, lowering taxes, shrinking the size of government and making regulations that were better for America's people to be able to gain freedom and wealth by using their mind spirit and hard work in an open entrepreneur environment
Why did congress pass the Underwood tariff?
The underwood tariff was passed to help bring in and make up for lost revenue. They reduced tariffs and slowly introduced the income tax..
What act was passed by congress in 1828?
Tariff of Abominations act.
What is payne-aldrich tariff act?
A act that William Howard Taft spent time to organize and use and stuff
What did the Underwood Tariif do?
The Underwood Tariff lowered the basic tariff rate. It lowered the rate from 40 percent to 25 percent. It is also known as the Revenue Act of 1913, Underwood Act, and Tariff Act.
How were the Payne-Aldrich Tariff and the Underwood Tariff Act similar?
Answering "How were the Payne-Aldrich Tariff and the Underwood Tariff Act similar?" Answering "How were the Payne-Aldrich Tariff and the Underwood Tariff Act similar?" Answering "How were the Payne-Aldrich Tariff and the Underwood Tariff Act similar?"
When congress passed the Underwood tariff bill in 1913 it intend the legislation to?
lower tariff rates
What other governmental action allowed Congress to include a provision for personal income tax in the Underwood Tariff Act in 1913?
The Sixteenth Amendment
What is the Underwood Simmons Act of 1913?
It was a tax that lowerd tax rates.
Was tariff reform passed during Wilson's presidency?
yes with the revenue act of 1913
What was the purpose of the Underwood tariff?
It reimposed the federal income tax following the ratification of the Sixteenth Amendment and lowered basic tariff rates from 40% to 25%. It was signed into law by President Woodrow Wilson on October 3, 1913,
Who supported the Underwood tariff act?
Woodrow Wilson (28th president) made it so im guessing he supports it !! (:
What laws were passed under Woodrow Wilson?
Woodrow Wilson's presidency witnessd the Federal Reserve Act of 1913, Underwood Tariff, 16th Amendment, Clayton Antitrust Act of 1914, Smith-Lever Act, Federal Farm Loan Act, Adamson Act (8 hour work day), and ...
What did the Underwood Tariff Act included a provision for?
A. negotiating fariffs with other nations. B. levying an income tax. C. starting a new national bank. D. banning tying agreements.
How did the Underwood Tariff affect imported goods?
encouraged merchants to import by reducing or eliminating tariff rates.
How did Underwood tariff affect important goods?
encouraged merchants to import by reducing or eliminating tariff rates.
