Reduced taxes on manufactured goods and eliminated duties on raw materials. Lowering these taxes and fees resulted in the concurrent passage of the Sixteenth Amendment, which permitted direct income taxes.
<span>The Underwood Tariff reduced and introduced a
graduated income tax. It also charged American manufacturers who wanted
to sell their goods overseas. At the same time, it required banks to
keep a certain level of assets on hand to meet customer demand.(Most
importantly, it made it more difficult for private industry to take
natural resources from public lands.)
Americans were at first excited in help of the upset. Notwithstanding, after some time divisions of sentiment ended up clear among federalists and enemies of federalists.
