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Underwood quickly shepherded the revenue bill through the House of Representatives, but the bill won approval in the United States Senate only after extensive lobbying by the Wilson administration. Wilson signed the bill into law on October 3, 1913. The Revenue Act of 1913 lowered average tariff rates from 40 percent to 26 percent.
This is a list of United States tariff laws. 1789: Tariff of 1789 (Hamilton Tariff) ... 1913: Revenue Act of 1913 (Underwood Tariff) 1921: Emergency Tariff of 1921;
In 1861, just before the Civil War, Congress enacted the Morrill Tariff, which applied high rates and inaugurated a period of relatively continuous trade protection in the United States that lasted until the Underwood Tariff of 1913. The schedule of the Morrill Tariff and its two successor bills were retained long after the end of the Civil War ...
Underwood served as House Majority Leader from 1911 to 1915, and was a strong supporter of President Woodrow Wilson's progressive agenda and a prominent advocate of a reduction in the tariff. He sponsored the Revenue Act of 1913, also known as the Underwood Tariff, which lowered tariff rates and imposed a federal income tax. He won election to ...
The Senate voted 44 to 37 in favor of the bill, with only one Democrat voting against it and only one Republican voting for it. Wilson signed the Revenue Act of 1913 (called the "Underwood Tariff") into law on October 3, 1913. [37] [40] The Revenue Act of 1913 reduced the average import tariff rates from 40 percent to 26 percent. [41]
The Tariff of 1842 returned the tariff to the level of 1832, with duties averaging between 23% and 35%. The Walker Tariff of 1846 essentially focused on revenue and reversed the trend of substituting specific for ad valorem duties. The Tariff of 1857 reduced the tariff to a general level of 20%, the lowest rate since 1830, and expanded the free ...
Tariff reform: This came through the passage of the Underwood Tariff Act of 1913, which lowered tariffs for the first time since 1857 and went against the protectionist lobby. [ 1 ] Labor reform: This was achieved through measures such as the Eight Hour Law for Women of the District of Columbia, the Seaman’s Act, Workmen’s Compensation for ...
The tariff inaugurated a period of continuous protectionism in the United States, and that policy remained until the adoption of the Revenue Act of 1913, or Underwood Tariff. The schedule of the Morrill Tariff and both of its successors were retained long after the end of the Civil War.