Revenue Act of 1928
The Revenue Act of 1928 was a significant piece of legislation in the United States that aimed to adjust tax rates and improve government revenue. It primarily focused on reducing income tax rates for individuals and corporations, which was part of a broader effort to stimulate economic growth during the late 1920s. The act also included provisions for estate taxes and aimed to simplify tax regulations.
This act was part of a series of tax reforms during the presidency of Calvin Coolidge and reflected the economic policies of the time, which favored lower taxes and minimal government intervention. The changes made by the Revenue Act of 1928 contributed to the economic prosperity of the Roaring Twenties, although they also set the stage for the financial challenges that followed in the 1930s.