Examples of Fordney-McCumber Tariff Act in the following topics:
-
- Harding signed the Revenue
Act of 1921, which gave large deductions in the amount of taxes the wealthiest
Americans had to pay.
- Considered
to be one of his greatest domestic achievements, Harding also signed
the Budget and Accounting Act of 1921, which established the framework for the
modern federal budget.
- On
September 21, 1922, Harding enthusiastically signed the Fordney-McCumber Tariff
Act, which increased the tariff rates contained in the previous Underwood-Simmons Tariff Act of 1913 to the highest level
in the nation's history.
- The act raised tariffs in America in order to protect
factories and farms, although the tariffs established in the 1920s have
historically been viewed as a contributing factor in the Wall Street Crash of
1929.
- In
what he proclaimed to be the age of the "motor car," Harding signed
the Federal Highway Act of 1921, which defined the Federal Aid Road program to develop an
immense national highway system.
-
- He subsequently signed the
Emergency Tariff of 1921 and the Fordney-McCumber Tariff of 1922 to ease the
economic suffering of domestic producers such as farmers.
- Constitution
banning alcohol was implemented through the Volstead Act, which went into
effect on January 17, 1920.