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How Did Woodrow Wilson Brought Back To The Federal Government

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After Roosevelt’s years and Taft’s (the next president after Roosevelt) years end, it came for Wilson’s years. Wilson’s program was called the “New Freedom”. The “New Freedoms” included Underwood-Simmons tariff, Sixteenth Amendment, Federal Reserve Act in 1913, Clayton Anti-Trust Act, and create Federal Trade Commission. After eight months Wilson entered the office, he passed the Underwood-Simmons Tariff Act in 1913. The act made significant reductions in tariff. Wilson lowered the tariff rates 25% on average; it is to encourage the government to raise national revenue. He was also set the income tax become 1% in Sixteenth Amendment in early 1913. The 1% income tax was for people who have income exceeding $2,000 for a single taxpayer and exceeding $4,000 for a family. This rule was only taxed …show more content…

By this act, two bank systems were created. The regular privately owned state banks were regulated by a system of Federal Reserve Bank. This Federal Reserve Banks provided services to member banks. Initially, it was a system to decentralize the banks and keep the banks from failing. This act was also to determine interest rates for loans. The Federal Reserve Act was the first tool to take power away from large investment banks (Bauer 9). After that, he passed the Clayton Antitrust Act in 1914. The aim of this act was to control and against the monopoly in the economy. It was also strengthened the Sherman Anti-Trust Act. This act made it prohibited for companies to buy stock in other companies if doing so would create a monopoly. The Clayton Anti-Trust allowed for prosecution of violators. To enforce the Clayton Anti-Trust Act, Wilson formed the Federal Trade Commission. The Federal Trade Commission (FTC) was a ‘watchdog' group to investigate possible violations of the trade laws (Bauer 9). All those actions above were successful and brought Wilson as a ‘progressive’

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