Revenue Act of 1942 signed

Name: Revenue Act of 1942 signed
Start: 1942-02-24
Location: United States

President Franklin D. Roosevelt signed the Revenue Act of 1942, a major tax measure that raised individual and corporate tax rates and established a wartime 'Victory Tax.'

The law sharply increased federal revenue and broadened the income tax base to help finance the U.S. military mobilization for World War II.

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Event Details

Date: February 24, 1942
President: Franklin D. Roosevelt
Category: Legislation
Era: World War Era

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