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Property Taxes and Elderly Labor Supply Federal Reserve Federalreserve  Form

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The Federal Income Tax and the Federal Reserve In hopes of further weakening the power of big business, Wilson worked diligently at convincing Congress to lower tariffs. In 1913 he called a special session of Congress to plead his case for significantly reducing tariffs for the first time since the Civil War. This meeting established the precedent of the president delivering the State of the Union Address to Congress in person. Businesses were working hard at lobbying Congress as well. As the tariff debate consumed Washington DC, armies of lobbyists hired by corporations to persuade Congress descended on the capital. Wilson urged Americans to monitor the votes of their Senators. In the end, the Revenue Act of 1913 was signed into law, and the bill, also known as the Underwood Act, is considered a major triumph for President Wilson. With tariff rates drastically lowered, the federal government had to find a way to replace the revenue. The Sixteenth Amendment, ratified in 1913, legalized

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