Revenue Act of 1913
The Revenue Act of 1913 known as the Underwood Tariff or the Underwood-Simmons Act, re-established a federal income tax in the United States and lowered tariff rates. The act was sponsored by Representative Oscar Underwood, passed by the 63rd United States Congress, signed into law by President Woodrow Wilson. Wilson and other members of the Democratic Party had long seen high tariffs as equivalent to unfair taxes on consumers, tariff reduction was President Wilson's first priority upon taking office. Following the ratification of the Sixteenth Amendment in 1913, Democratic leaders agreed to seek passage of a major bill that would lower tariffs and implement an income tax. Underwood shepherded the revenue bill through the House of Representatives, but the bill won approval in the United States Senate only after extensive lobbying by the Wilson administration. Wilson signed the bill into law on October 3, 1913; the Revenue Act of 1913 lowered average tariff rates from 40 percent to 26 percent.
It established a one percent tax on income above $3,000 per year. A separate provision established a corporate tax of one percent, superseding a previous tax that had only applied to corporations with net incomes greater than $5,000 per year. Though a Republican-controlled Congress would raise tariff rates, the Revenue Act of 1913 marked an important shift in federal revenue policy, as government revenue would rely on income taxes rather than tariff duties. Democrats had long seen high tariff rates as equivalent to unfair taxes on consumers, tariff reduction was President Wilson's first priority upon taking office, he argued that the system of high tariffs "cuts us off from our proper part in the commerce of the world, violates the just principles of taxation, makes the government a facile instrument in the hands of private interests." While most Democrats were united behind a decrease in tariff rates, most Republicans held that high tariff rates were useful for protecting domestic manufacturing and factory workers against foreign competition.
Shortly before Wilson took office, the Sixteenth Amendment, proposed by Congress in 1909 during a debate over tariff legislation, was ratified by the requisite number of states. Following the ratification of the Sixteenth Amendment, Democratic leaders agreed to attach an income tax provision to their tariff reduction bill to make up for lost revenue, to shift the burden of funding the government towards the high earners that would be subject to the income tax. By late May 1913, House Majority Leader Oscar Underwood had passed a bill in the House that cut the average tariff rate by 10 percent. Underwood's bill, which represented the largest downward revision of the tariff since the Civil War, aggressively cut rates for raw materials, goods deemed to be "necessities," and products produced domestically by trusts, but it retained higher tariff rates for luxury goods; the bill instituted a tax on personal income above $4,000. Passage of Underwood's tariff bill in the Senate would prove more difficult than in the House because some Southern and Western Democrats favored the continued protection of the wool and sugar industries, because Democrats had a narrower majority in that chamber.
Seeking to marshal support for the tariff bill, Wilson met extensively with Democratic senators and appealed directly to the people through the press. After weeks of hearings and debate and Secretary of State William Jennings Bryan managed to unite Senate Democrats behind the bill; the Senate voted 44 to 37 in favor of the bill, with only one Democrat voting against it and only one Republican, progressive leader Robert M. La Follette Sr. voting for it. Wilson signed the Revenue Act of 1913 into law on October 3, 1913; the Revenue Act of 1913 reduced the average import tariff rates from 40 percent to 26 percent. The Act established the lowest rates since the Walker Tariff of 1857. Most schedules were a percentage of the value of the item; the duty on woolens went from 56% to 18.5%. Steel rails, raw wool, iron ore, agricultural implements now had zero rates; the reciprocity program wanted by the Republicans was eliminated. Congress rejected proposals for a tariff board to fix rates scientifically, but it set up a study commission.
The Underwood-Simmons measure vastly increased the free list, adding woolens, steel, farm machinery, many raw materials and foodstuffs. The average rate was 26%; the Revenue Act of 1913 restored a federal income tax for the first time since 1872. The federal government had adopted an income tax in the Wilson–Gorman Tariff Act, but that tax had been struck down by the Supreme Court in the case of Pollock v. Farmers' Loan & Trust Co; the Revenue Act of 1913 imposed a one percent tax on incomes above $3,000, with a top tax rate of six percent on those earning more than $500,000 per year. Three percent of the population was subject to the income tax; the bill included a one percent tax on the net income of all corporations, superseding a previous federal tax that had only applied to corporate net incomes above $5,000. The Supreme Court upheld the constitutionality of the income tax in the cases of Brushaber v. Union Pacific Railroad Co. and Stanton v. Baltic Mining Co. A normal income tax and an additional tax were levied against the net income of individuals, as shown in the following table: There was an exemption of $3,000 for single filers and $4,000 for married couples.
Therefore, the 1% bottom marginal rate applied only to the first $17,000 of income for single filers or the first $16,000 ($352,300 in
Noah Haynes Swayne
Noah Haynes Swayne was an American jurist and politician. He was the first Republican appointed as a justice to the United States Supreme Court. Swayne was born in Frederick County, Virginia in the uppermost reaches of the Shenandoah Valley 100 miles northwest of Washington D. C, he was the youngest of nine children of Rebecca Swayne. He was a descendant of Francis Swayne, who emigrated from England in 1710 and settled near Philadelphia. After his father died in 1809, Noah was educated locally until enrolling in Jacob Mendendhall's Academy in Waterford, Virginia, a respected Quaker school 1817–18, he began to study medicine in Alexandria, but abandoned this pursuit after his teacher Dr. George Thornton died in 1819. Despite his family having no money to support his continued education, he read law under John Scott and Francis Brooks in Warrenton and was admitted to the Virginia Bar in 1823. A devout Quaker, Swayne was opposed to slavery, in 1824 he left Virginia for the free state of Ohio, his abolitionist sentiments caused him to move to Ohio.
He began a private practice in Coshocton and, in 1825, was elected Coshocton County Attorney. Four years he was elected to the Ohio state legislature. In 1830 he was appointed U. S. Attorney for Ohio by Andrew Jackson, moved to Columbus to take up the new position. While serving as U. S. Attorney, Swayne was elected in 1834 to the Columbus City Council, in 1836 to the Ohio House of Representatives; as U. S. Attorney, Swayne became close friends with Supreme Court justice John McLean. McLean, by the end of his career, was a strong Republican, when the party was formed in 1855 Swayne had become an early member and political organizer. In 1835, as escalating tensions in the boundary dispute between Ohio and Michigan Territory threatened to erupt into violent conflict, Ohio Governor Robert Lucas dispatched Swayne, along with former Congressman William Allen and David T. Disney, to Washington D. C. to confer with President Andrew Jackson. The delegation presented Ohio's case and urged the President to act swiftly to address the situation.
John McLean was one of two dissenters in the Dred Scott case. He sought the Republican nomination for President in 1860. However, he recommended to Lincoln on a number of occasions that Swayne be nominated to replace him on the court; this proved timely. As the American Civil War began, Swayne campaigned for the vacant seat, lobbying several Ohio members of Congress for their support; as the Oyez Project notes: "Swayne satisfied Lincoln's criteria for appointment: commitment to the Union, slavery opponent, geographically correct."It is believed that Swayne had represented fugitive slaves in court. So eight months after McLean's death, Swayne was nominated, on January 21, 1862; the nomination was confirmed by the United States Senate on January 24, 1862, with Swayne receiving his commission the same day. In the Slaughterhouse Cases, 83 U. S. 36 – a pivotal decision on the meaning of Section 1 of the new Fourteenth Amendment to the Constitution—Swayne dissented with Justices Stephen J. Field and Joseph Bradley.
Field's dissent was important, presaged decisions broadening the scope of the Fourteenth Amendment. However, four years Swayne joined the majority in Munn v. Illinois, with Field still dissenting. Swayne's potential judicial greatness failed to materialize, he was the first of President Lincoln's five appointments to the Supreme Court: Noah Hayes Swayne – 1862. He is said to have been "the weakest", his main distinction was his staunch judicial support of the president's war measures: the Union blockade. He is most famous for his majority opinion in Springer v. United States, 102 U. S. 586, which upheld the Federal income tax imposed under the Revenue Act of 1864. In Gelpcke v. Dubuque 68 U. S. 175 Swayne wrote the majority opinion, repudiating a claim that the Iowa constitution could impair legal obligations to bondholders. When contracts are made on the basis of trust in past judicial decisions those contracts could not be impaired by any subsequent construction of the law. "We shall never immolate truth and the law, because a state tribunal has erected the altar and decreed the sacrifice."
He supported "the contractual rights of railroad bond holders, "even in the face of repudiation sanctioned both by the Iowa state legislature and state supreme court. Obligations sacred to law are not to be destroyed because'a state tribunal has erected the altar and decreed the sacrifice.'" For a decision on impairment of contracts, compare Lochner v. New York, 198 U. S. 45. Swayne remained on the court until 1881, twice lobbying unsuccessfully to be elevated to the position of Chief Justice. After his retirement, Swayne returned to Ohio. Swayne is not regarded as a distinguished justice, he wrote few opinions signing on to opinions written by others, remained on the court well past his physical prime, being quite infirm at his retirement. Under pressure from President Rutherford B. Hayes, he agreed to retire on the condition that his friend and fellow Ohio attorney Stanley Matthews replace him, his son, Wager Swayne, served in t
Associate Justice of the Supreme Court of the United States
Associate Justice of the Supreme Court of the United States is the title of all members of the Supreme Court of the United States other than the Chief Justice of the United States. The number of associate justices is eight, as set by the Judiciary Act of 1869. Article II, Section 2, Clause 2 of the United States Constitution grants plenary power to the president to nominate, with the advice and consent of the Senate, appoint justices to the Supreme Court. Article III, Section 1 of the Constitution grants life tenure to associate justices, all other federal judges, which ends only when a justice dies, resigns, or is removed from office by impeachment; each Supreme Court justice has a single vote in deciding. However, the Chief Justice -- when in the majority -- decides the court's opinion. Otherwise, the senior justice in the majority assigns the writing of a decision. Furthermore, the chief justice leads the discussion of the case among the justices; the chief justice has certain administrative responsibilities that the other justices do not and is paid more.
Associate justices have seniority by order of appointment, although the chief justice is always considered to be the most senior. If two justices are appointed on the same day, the older is designated the senior justice of the two; the senior associate justice is Clarence Thomas. By tradition, when the justices are in conference deliberating the outcome of cases before the Supreme Court, the justices state their views in order of seniority; the senior associate justice is tasked with carrying out the chief justices's duties when he is unable to, or if that office is vacant. Associate justices were styled "Mr. Justice" in court opinions and other writings; the title was shortened to "Justice" in 1980, a year before Sandra Day O'Connor became the first female justice. There are eight associate justices on the Supreme Court; the justices, ordered by seniority, are: An associate justice who leaves the Supreme Court after attaining the age and meeting the service requirements prescribed by federal statute may retire rather than resign.
After retirement, they keep their title, by custom may keep a set of chambers in the Supreme Court building, employ law clerks. The names of retired associate justices continue to appear alongside those of the active justices in the bound volumes of Supreme Court decisions. Federal statute provides that retired Supreme Court justices may serve—if designated and assigned by the chief justice—on panels of the U. S. courts of appeals, or on the U. S. district courts. Retired justices are not, authorized to take part in the consideration or decision of any cases before the Supreme Court. When, after his retirement, William O. Douglas attempted to take a more active role than was customary, maintaining that it was his prerogative to do so because of his senior status, he was rebuffed by Chief Justice Warren Burger and admonished by the whole Court. There are four living retired associate justices at the present time: Sandra Day O'Connor, retired January 31, 2006. Both O'Connor and Souter serve on panels of the Courts of Appeals of various circuits.
Stevens and Kennedy have not performed any judicial duties. Since the Supreme Court was established in 1789, the following 102 persons have served as an associate justice: Associate Justice Historic Supreme Court Decisions – by Justice, Legal Information Institute, Cornell University Law School Supreme Court of the United States
Abraham Lincoln was an American statesman and lawyer who served as the 16th president of the United States from 1861 until his assassination in April 1865. Lincoln led the nation through the American Civil War, its bloodiest war and its greatest moral and political crisis, he preserved the Union, abolished slavery, strengthened the federal government, modernized the U. S. economy. Born in Kentucky, Lincoln grew up on the frontier in a poor family. Self-educated, he became Whig Party leader, state legislator and Congressman, he left government to resume his law practice, but angered by the success of Democrats in opening the prairie lands to slavery, reentered politics in 1854. He became a leader in the new Republican Party and gained national attention in 1858 for debating and losing to national Democratic leader Stephen A. Douglas in a Senate campaign, he ran for President in 1860, sweeping the North and winning. Southern pro-slavery elements took his win as proof that the North was rejecting the Constitutional rights of Southern states to practice slavery.
They began the process of seceding from the union. To secure its independence, the new Confederate States of America fired on Fort Sumter, one of the few U. S. forts in the South. Lincoln called up volunteers and militia to restore the Union; as the leader of the moderate faction of the Republican Party, Lincoln confronted Radical Republicans, who demanded harsher treatment of the South. Lincoln fought the factions by pitting them against each other, by distributing political patronage, by appealing to the American people, his Gettysburg Address became an iconic call for nationalism, equal rights and democracy. He suspended habeas corpus, he averted British intervention by defusing the Trent Affair. Lincoln supervised the war effort, including the selection of generals and the naval blockade that shut down the South's trade; as the war progressed, he maneuvered to end slavery, issuing the Emancipation Proclamation of 1863. Lincoln managed his own re-election campaign, he sought to reconcile his damaged nation by avoiding retribution against the secessionists.
A few days after the Battle of Appomattox Court House, he was shot by John Wilkes Booth, an actor and Confederate sympathizer, on April 14, 1865, died the following day. Abraham Lincoln is remembered as the United States' martyr hero, he is ranked both by scholars and the public as among the greatest U. S. presidents. Abraham Lincoln was born on February 12, 1809, as the second child of Thomas and Nancy Hanks Lincoln, in a one-room log cabin on Sinking Spring Farm near Hodgenville, Kentucky, he was a descendant of Samuel Lincoln, an Englishman who migrated from Hingham, Norfolk, to its namesake Hingham, Massachusetts, in 1638. Samuel's grandson and great-grandson began the family's westward migration, passing through New Jersey and Virginia. Lincoln's paternal grandfather and namesake, Captain Abraham Lincoln, moved the family from Virginia to Jefferson County, Kentucky, in the 1780s. Captain Lincoln was killed in an Indian raid in 1786, his children, including eight-year-old Thomas, Abraham's father, witnessed the attack.
Thomas worked at odd jobs in Kentucky and in Tennessee, before settling with members of his family in Hardin County, Kentucky, in the early 1800s. Lincoln's mother, Nancy, is assumed to have been the daughter of Lucy Hanks, although no record documents this. Thomas and Nancy married on June 12, 1806, in Washington County, moved to Elizabethtown, Kentucky, they produced three children: Sarah, born on February 10, 1807. Thomas Lincoln leased farms in Kentucky. Thomas became embroiled in legal disputes, lost all but 200 acres of his land in court disputes over property titles. In 1816, the family moved to Indiana, where the survey process was more reliable and land titles were more secure. Indiana was a "free" territory, they settled in an "unbroken forest" in Hurricane Township, Perry County. In 1860, Lincoln noted that the family's move to Indiana was "partly on account of slavery", but due to land title difficulties. In Kentucky and Indiana, Thomas worked as a farmer and carpenter, he owned farms, town lots and livestock, paid taxes, sat on juries, appraised estates, served on country slave patrols, guarded prisoners.
Thomas and Nancy were members of a Separate Baptists church, which forbade alcohol and slavery. Overcoming financial challenges, Thomas obtained clear title to 80 acres of land in what became known as the Little Pigeon Creek Community. On October 5, 1818, Nancy Lincoln died of milk sickness, leaving 11-year-old Sarah in charge of a household that included her father, 9-year-old Abraham, Dennis Hanks, Nancy's 19-year-old orphaned cousin; those who knew Lincoln recalled that he was distraught over his sister's death on January 20, 1828, while giving birth to a stillborn son. On December 2, 1819, Thomas married Sarah "Sally" Bush Johnston, a widow from Elizabethtown, with three children of her own. Abraham became close to his stepmother, whom he referred t
United States dollar
The United States dollar is the official currency of the United States and its territories per the United States Constitution since 1792. In practice, the dollar is divided into 100 smaller cent units, but is divided into 1000 mills for accounting; the circulating paper money consists of Federal Reserve Notes that are denominated in United States dollars. Since the suspension in 1971 of convertibility of paper U. S. currency into any precious metal, the U. S. dollar is, de facto, fiat money. As it is the most used in international transactions, the U. S. dollar is the world's primary reserve currency. Several countries use it as their official currency, in many others it is the de facto currency. Besides the United States, it is used as the sole currency in two British Overseas Territories in the Caribbean: the British Virgin Islands and Turks and Caicos Islands. A few countries use the Federal Reserve Notes for paper money, while still minting their own coins, or accept U. S. dollar coins. As of June 27, 2018, there are $1.67 trillion in circulation, of which $1.62 trillion is in Federal Reserve notes.
Article I, Section 8 of the U. S. Constitution provides that the Congress has the power "To coin money". Laws implementing this power are codified at 31 U. S. C. § 5112. Section 5112 prescribes the forms; these coins are both designated in Section 5112 as "legal tender" in payment of debts. The Sacagawea dollar is one example of the copper alloy dollar; the pure silver dollar is known as the American Silver Eagle. Section 5112 provides for the minting and issuance of other coins, which have values ranging from one cent to 100 dollars; these other coins are more described in Coins of the United States dollar. The Constitution provides that "a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time"; that provision of the Constitution is made specific by Section 331 of Title 31 of the United States Code. The sums of money reported in the "Statements" are being expressed in U. S. dollars. The U. S. dollar may therefore be described as the unit of account of the United States.
The word "dollar" is one of the words in the first paragraph of Section 9 of Article I of the Constitution. There, "dollars" is a reference to the Spanish milled dollar, a coin that had a monetary value of 8 Spanish units of currency, or reales. In 1792 the U. S. Congress passed a Coinage Act. Section 9 of that act authorized the production of various coins, including "DOLLARS OR UNITS—each to be of the value of a Spanish milled dollar as the same is now current, to contain three hundred and seventy-one grains and four sixteenth parts of a grain of pure, or four hundred and sixteen grains of standard silver". Section 20 of the act provided, "That the money of account of the United States shall be expressed in dollars, or units... and that all accounts in the public offices and all proceedings in the courts of the United States shall be kept and had in conformity to this regulation". In other words, this act designated the United States dollar as the unit of currency of the United States. Unlike the Spanish milled dollar, the U.
S. dollar is based upon a decimal system of values. In addition to the dollar the coinage act established monetary units of mill or one-thousandth of a dollar, cent or one-hundredth of a dollar, dime or one-tenth of a dollar, eagle or ten dollars, with prescribed weights and composition of gold, silver, or copper for each, it was proposed in the mid-1800s that one hundred dollars be known as a union, but no union coins were struck and only patterns for the $50 half union exist. However, only cents are in everyday use as divisions of the dollar. XX9 per gallon, e.g. $3.599, more written as $3.599⁄10. When issued in circulating form, denominations equal to or less than a dollar are emitted as U. S. coins while denominations equal to or greater than a dollar are emitted as Federal Reserve notes. Both one-dollar coins and notes are produced today, although the note form is more common. In the past, "paper money" was issued in denominations less than a dollar and gold coins were issued for circulation up to the value of $20.
The term eagle was used in the Coinage Act of 1792 for the denomination of ten dollars, subsequently was used in naming gold coins. Paper currency less than one dollar in denomination, known as "fractional currency", was sometimes pejoratively referred to as "shinplasters". In 1854, James Guthrie Secretary of the Treasury, proposed creating $100, $50 and $25 gold coins, which were referred to as a "Union", "Half Union", "Quarter Union", thus implying a denomination of 1 Union = $100. Today, USD notes are made from cotton fiber paper, unlike most common paper, made of wood fiber. U. S. coins are produced by the United States Mint. U. S. dollar banknotes are printed by the Bureau of Engraving and Printing and, since 1914, have been issued by t
Tax Reform Act of 1986
The U. S. Congress passed the Tax Reform Act of 1986 to simplify the income tax code, broaden the tax base and eliminate many tax shelters. Referred to as the second of the two "Reagan tax cuts", the bill was officially sponsored by Democrats, Richard Gephardt of Missouri in the House of Representatives and Bill Bradley of New Jersey in the Senate; the Tax Reform Act of 1986 was given impetus by a detailed tax-simplification proposal from President Reagan's Treasury Department, was designed to be tax-revenue neutral because Reagan stated that he would veto any bill, not. Revenue neutrality was achieved by offsetting tax cuts for individuals by eliminating $60 billion annually in tax loopholes and shifting $24 billion of the tax burden from individuals to corporations by eliminating the investment tax credit, slowing depreciation of assets, enacting a stiff alternative minimum tax on corporations; the top tax rate for individuals for tax year 1987 was lowered from 50% to 38.5%. Many lower level tax brackets were consolidated, the upper income level of the bottom rate was increased from $5,720/year to $29,750/year.
This package consolidated tax brackets from fifteen levels of income to four levels of income. The standard deduction, personal exemption, earned income credit were expanded, resulting in the removal of six million poor Americans from the income tax roll and a reduction of income tax liability across all income levels; the higher standard deduction simplified the preparation of tax returns for many individuals. For tax year 1987, the Act provided a graduated rate structure of 11%/15%/28%/35%/38.5%. Beginning with tax year 1988, the Act provided a nominal rate structure of 15%/28%/33%. However, beginning with 1988, taxpayers having taxable income higher than a certain level were taxed at an effective rate of about 28%; this was jettisoned in the Omnibus Budget Reconciliation Act of 1990, otherwise known as the "Bush tax increase", which violated his Taxpayer Protection Pledge. The Act increased incentives favoring investment in owner-occupied housing relative to rental housing. Prior to the Act, all personal interest was deductible.
Subsequently, only home mortgage interest was deductible, including interest on home equity loans. The Act phased out many investment incentives for rental housing, through extending the depreciation period of rental property to 27.5 years from 15-19 years. It discouraged real estate investing by eliminating the deduction for passive losses. To the extent that low-income people may be more to live in rental housing than in owner-occupied housing, this provision of the Act could have had the tendency to decrease the new supply of housing accessible to low-income people; the Low-Income Housing Tax Credit was added to the Act to provide some balance and encourage investment in multifamily housing for the poor. Moreover, interest on consumer loans such as credit card debt was no longer deductible. An existing provision in the tax code, called Income Averaging, which reduced taxes for those only making a much higher salary than before, was eliminated; the Act, increased the personal exemption and standard deduction.
The Individual Retirement Account deduction was restricted. The IRA had been created as part of the Employee Retirement Income Security Act of 1974, where employees not covered by a pension plan could contribute the lesser of $1500 or 15% of earned income; the Economic Recovery Tax Act of 1981 removed the pension plan clause and raised the contribution limit to the lesser of $2000 or 100% of earned income. The 1986 Tax Reform Act retained the $2000 contribution limit, but restricted the deductibility for households that have pension plan coverage and have moderate to high incomes. Non-deductible contributions were allowed. Depreciation deductions were curtailed. Prior to ERTA, depreciation was based on "useful life" calculations provided by the Treasury Department. ERTA set up the "accelerated cost recovery system"; this set up a series of useful lives based on three years for technical equipment, five years for non-technical office equipment, ten years for industrial equipment, fifteen years for real property.
TRA86 lengthened these lives, lengthened them further for taxpayers covered by the alternative minimum tax. These latter, longer lives approximate "economic depreciation," a concept economists have used to determine the actual life of an asset relative to its economic value. Defined contribution pension contributions were curtailed; the law prior to TRA86 was that DC pension limits were the lesser of 25% of compensation or $30,000. This could be accomplished by any combination of elective deferrals and profit sharing contributions. TRA86 introduced an elective deferral limit of $7000, indexed to inflation. Since the profit sharing percentage must be uniform for all employees, this had the intended result of making more equitable contributions to 401's and other types of DC pension plans; the 1986 Tax Reform Act introduced the General Nondiscrimination rules which applied to qualified pension plans and 403 plans that for private sector employers. It did not allow such pension plans to discriminate in favor of compensated employees.
A compensated employee for the purposes of testing a plan's compliance for the 2006 plan year is any employee whose compensation exceeded $95,000 in the 2005 plan year. Therefore, all new hires are by definition nonhighly compensated employees. A plan could not give benefits or contributions on a more favorable basis for
Revenue Act of 1924
The United States Revenue Act of 1924 known as the Mellon tax bill cut federal tax rates and established the U. S. Board of Tax Appeals, renamed the United States Tax Court in 1942; the bill was named after U. S. Secretary of the Treasury Andrew Mellon; the Revenue Act was applicable to incomes for 1924. The bottom rate, on income under $4,000, fell from 1.5% to 1.125%. A parallel act, the Indian Citizenship Act of 1924, granted all non-citizen resident Indians citizenship, thus the Revenue Act declared that there were no longer any "Indians, not taxed" to be not counted for purposes of United States Congressional apportionment. President Calvin Coolidge signed the bill into law. Both a normal Tax and a surtax were levied against the net income of individuals, as shown in the following table: Exemption of $1,000 for single filers and $2,500 for married couples and heads of family. A $400 exemption for each dependent under 18