Home / Timeline / Franklin D. Roosevelt / President Roosevelt signs the Revenue Act of 1942

Legislation

President Roosevelt signs the Revenue Act of 1942

Name: President Roosevelt signs the Revenue Act of 1942
Start: 1942-06-28
Location: United States

Roosevelt signed the Revenue Act of 1942, which raised individual and corporate income taxes and established a wartime 'Victory Tax.'

The law greatly expanded the tax base and federal revenue to finance World War II, representing a major fiscal shift with lasting impact on U.S. taxation and wartime mobilization.

← Back to timeline View Franklin D. Roosevelt

Event Details

Date: June 28, 1942
President: Franklin D. Roosevelt
Category: Legislation
Era: World War Era

References / Sources

No source references have been added for this event yet.

Related Timeline Entries

Trump Administration Pushes to Remove Tax Exemption for Private Colleges with DEI Policies

September 4, 2026 • Donald Trump

Legislation

Trump Administration Pushes to Remove Tax Exemption for Private Colleges with DEI Policies

The Trump administration is advancing a proposal to eliminate tax exemptions for private colleges that implement diversity, equity, and inclusion (DEI) policies.