Tariff-Policy

Underwood Tariff Slashes Corporate Protection, Establishes Modern Income Tax After 16th Amendment

1913-10-03 00:00:00 +0000 UTC | Importance: 9/10

President Woodrow Wilson signed the Revenue Act of 1913, also known as the Underwood Tariff or Underwood-Simmons Act, slashing average tariff rates from 40 percent to 27 percent and establishing the modern federal income tax for the first time since 1872. Wilson made tariff reduction his first …

President Woodrow Wilson Oscar Underwood Democratic Party progressive-era tax-policy tariff-policy income-tax corporate-power

Payne-Aldrich Tariff Betrays Progressive Promises: Taft Praises "Best Tariff Bill," Splits Republican Party

1909-08-05 00:00:00 +0000 UTC | Importance: 8/10

President William Howard Taft signed the Payne-Aldrich Tariff Act and infamously praised it as “the best tariff bill the Republican party ever passed,” betraying his 1908 campaign promises for meaningful tariff reform and triggering a permanent split within the Republican Party. Taft had …

President William Howard Taft Nelson Aldrich Progressive Republicans Old Guard Republicans progressive-era tariff-policy republican-party corporate-power political-realignment