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03/10/1913 US Federal income tax is signed into law

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History Brief: The Federal Income Tax and the Federal Reserve

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The Federal Reserve Act Explained

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The Federal Reserve Explained in 3 Minutes

The Revenue Act of 1913 re-imposed the federal income tax after the ratification of the Sixteenth Amendment and lowered basic tariff rates from 40% to 25%. It was signed into law by President Woodrow Wilson and sponsored by Alabama Representative Oscar Underwood.