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By late May 1913, House Majority Leader Oscar Underwood had passed a bill in the House that cut the average tariff rate by 10 percent. [11] Underwood's bill, which represented the largest downward revision of the tariff since the Civil War, aggressively cut rates for raw materials, goods deemed to be "necessities," and products produced ...
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 ...
In May 1913, House Majority Leader Oscar Underwood organized House passage of a bill that cut the average tariff rate by 10 percent. [37] Underwood's bill, which represented the largest downward revision of the tariff since the Civil War, aggressively cut rates for raw materials, goods deemed to be "necessities," and products produced ...
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;
The 1913 Underwood Tariff cut rates, but the coming of World War I in 1914 radically revised trade patterns. Reduced trade and, especially, the new revenues generated by the federal income tax made tariffs much less important in terms of economic impact and political rhetoric.
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 Underwood Tariff Bill, sponsored by Alabama Congressman Oscar Underwood passed the United States House of Representatives 281–139. Besides lowering the tariff charged on many products imported from abroad, the bill was the first step toward enacting a federal income tax. [36] French aviator Messr.
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.