Revenue Act of 1862: Difference between revisions

Revenue Act of 1862 (view source)

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 {{short description|1862 United States tax reform law}}
-The '''Revenue Act of 1862''' (July 1, 1862, Ch. 119, {{USStat|12|432}}), was a bill the [[United States Congress]] passed to help fund the American Civil War. President [[Abraham Lincoln]] signed the act into law on July 1, 1862. The act established the office of the [[Commissioner of Internal Revenue]], a department in charge of the [[Revenue service|collection]] of [[Taxation in the United States|taxes]], and levied [[excise taxes]] on most items consumed and traded in the United States. The act also introduced the United States' first [[progressive tax]] with the intent of raising millions of dollars for the [[Union (American Civil War)|Union]].
+The '''Revenue Act of 1862''' (July 1, 1862, Ch. 119, {{USStat|12|432}}), was a bill the [[United States Congress]] passed to help fund the American Civil War. President Abraham Lincoln signed the act into law on July 1, 1862. The act established the office of the [[Commissioner of Internal Revenue]], a department in charge of the [[Revenue service|collection]] of [[Taxation in the United States|taxes]], and levied [[excise taxes]] on most items consumed and traded in the United States. The act also introduced the United States' first [[progressive tax]] with the intent of raising millions of dollars for the [[Union (American Civil War)|Union]].
 ==Background==