Revenue Act of 1924
E571126
The Revenue Act of 1924 was a major U.S. federal tax law that significantly reduced income tax rates and restructured federal taxation as part of Treasury Secretary Andrew Mellon's broader 1920s tax-cutting program.
All labels observed (1)
| Label | Occurrences |
|---|---|
| Revenue Act of 1924 canonical | 2 |
Statements (46)
| Predicate | Object |
|---|---|
| instanceOf |
Act of Congress
ⓘ
United States federal tax law ⓘ |
| alsoKnownAs | Mellon tax bill of 1924 NERFINISHED ⓘ |
| appliesIn |
U.S. territories subject to federal income tax at the time
ⓘ
continental United States ⓘ |
| appliesTo |
corporate taxpayers in the United States
ⓘ
individual taxpayers in the United States ⓘ |
| associatedWith | Republican Party tax policy in the 1920s ⓘ |
| basedOn | recommendations of Treasury Secretary Andrew Mellon ⓘ |
| category |
1924 in American law
ⓘ
United States federal legislation ⓘ United States federal taxation legislation ⓘ |
| chamberInvolved |
United States House of Representatives
NERFINISHED
ⓘ
United States Senate NERFINISHED ⓘ |
| country |
United States of America
ⓘ
surface form:
United States
|
| effect |
lowered surtax rates on high incomes
ⓘ
reduced federal income tax rates ⓘ reduced tax burden on corporations ⓘ reduced tax burden on individuals ⓘ restructured federal taxation ⓘ |
| enactedIn | 1924 ⓘ |
| followedBy | Revenue Act of 1926 NERFINISHED ⓘ |
| historicalContext |
Roaring Twenties
NERFINISHED
ⓘ
post–World War I fiscal policy ⓘ |
| influencedBy | Andrew Mellon NERFINISHED ⓘ |
| jurisdiction |
United States government
ⓘ
surface form:
federal government of the United States
|
| language | English ⓘ |
| legalArea | tax law ⓘ |
| legalStatus | superseded ⓘ |
| legislativeBody | United States Congress ⓘ |
| partOf | 1920s United States tax-cutting program ⓘ |
| policyGoal |
reduce wartime tax levels from World War I era
ⓘ
simplify the federal tax system ⓘ stimulate economic growth through tax reduction ⓘ |
| policyProgram | Andrew Mellon tax reduction program NERFINISHED ⓘ |
| precededBy | Revenue Act of 1921 NERFINISHED ⓘ |
| presidentAtEnactment | Calvin Coolidge NERFINISHED ⓘ |
| shortName | Revenue Act of 1924 NERFINISHED ⓘ |
| signedBy | Calvin Coolidge NERFINISHED ⓘ |
| sponsorContext | Coolidge administration NERFINISHED ⓘ |
| subjectMatter |
estate and gift taxation
ⓘ
federal taxation ⓘ income tax ⓘ |
| timePeriod | interwar period ⓘ |
| typeOfChange |
tax rate reduction
ⓘ
tax structure reform ⓘ |
Referenced by (2)
Full triples — surface form annotated when it differs from this entity's canonical label.