what is the Simmons- Underwood tariff act of 1913?
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- 1 decade agoFavorite Answer
The United States Revenue Act of 1913 also known as the Tariff Act, Underwood Tariff, or Underwood-Simmons Act (ch. 16, 38 Stat. 114, October 3, 1913), re-imposed the federal income tax following the ratification of the Sixteenth Amendment and lowered basic tariff rates from 40% to 25%, well below the Payne-Aldrich Tariff Act of 1909. It was signed into law by President Woodrow Wilson on October 3, 1913, and was sponsored by Alabama Representative Oscar Underwood.
That came from Wikipedia. There is a lot more information there, as well, that explains the Sixteenth Amendment.
- Anonymous5 years ago
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The major long-term effect was the graduated income tax. Tariffs were lowered and items such as iron, raw wool, and sugar were put on the free list.