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Wickersham discovered that trust busting meant higher prices for consumers, telling Taft "the disintegrated companies of both the oil and tobacco trust are spending many times what was formerly spent by anyone in advertising in the newspapers." [9] 16 new cases were launched in the last 2 months of the Taft administration. [10]
Congress reacted in 1914 by passing two new laws: the Clayton Act, which outlawed using mergers and acquisitions to achieve monopolies and created an antitrust law exemption for collective bargaining; and the Federal Trade Commission Act, which created the Federal Trade Commission (FTC) as an independent agency that has shared jurisdiction with ...
The Labor Management Relations Act, 1947, better known as the Taft–Hartley Act, is a United States federal law that restricts the activities and power of labor unions. It was enacted by the 80th United States Congress over the veto of President Harry S. Truman , becoming law on June 23, 1947.
A Progressive reformer, Roosevelt earned a reputation as a "trust buster" through his regulatory reforms and antitrust prosecutions. His presidency saw the passage of the Pure Food and Drug Act , which established the Food and Drug Administration to regulate food safety, and the Hepburn Act , which increased the regulatory power of the ...
The U.S. Federal Trade Commission's merger-busting, antitrust enforcement powers are coming under threat as conservatives look to harness President-elect Donald Trump's support for limiting ...
Taft sought to lower tariffs—a tax on imports—then a major source of governmental income. However he was out-maneuvered. The new Payne–Aldrich Tariff Act of 1909 raised rates when most people expected reductions. Taft expanded Roosevelt's efforts to break up trusts, launching legal cases against U.S. Steel and other
But Biden said just ahead of the strike that he had no intention of invoking the Taft-Hartley Act, the 1947 law that empowers the president to intervene in work stoppages that affect national ...
The Taft–Hartley Act [143] was a major revision of the National Labor Relations Act of 1935 (the Wagner Act) and represented the first major revision of a New Deal act passed by a post-war Congress. In the mid-term elections of 1946, the Republican Party gained majorities in both houses for the first time since 1931.