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Rates were raised in 1864. This income tax was repealed in 1872. A new income tax statute was enacted as part of the 1894 Tariff Act. [20] [21] At that time, the United States Constitution specified that Congress could impose a "direct" tax only if the law apportioned that tax among the states according to each state's census population. [22]
The first railroad built in Texas is called the Harrisburg Railroad and opened for business in 1853. [21] In 1854, the Texas and Red River telegraph services were the first telegraph offices to open in Texas. [21] The Texas cotton industry in 1859 increased production by seven times compared to 1849, as 58,073 bales increased to 431,645 bales. [22]
A country's infrastructure (including transportation, telecommunications and energy industry) is a major enabler of industrial policy. [6] Industrial policies are interventionist measures typical of mixed economy countries. Many types of industrial policies contain common elements with other types of interventionist practices such as trade policy.
Tax rates were 3% on income exceeding $600 and less than $10,000, and 5% on income exceeding $10,000. [8] This tax was repealed and replaced by another income tax in the Revenue Act of 1862. [9] After the war when the need for federal revenues decreased, Congress (in the Revenue Act of 1870) let the tax law expire in 1873. [10]
(Credit: University of North Texas / Portal to Texas History) Civil rights victory 70 years ago In 2024, the landmark Brown vs. Board of Education case is likely to be in the forefront of civil ...
During World War II the main universities like University of Texas and Texas A&M University gained a new national role. The wartime financing of university research, curricular change, campus trainee programs, and postwar veteran enrollments changed the tenor and allowed Texas schools to gain national stature.
The Tax Cuts and Jobs Act of 2017 brought sweeping tax reform to the U.S. tax code, including lower tax rates, higher standard deductions, and a host of personal and business tax changes designed ...
Tariffs have historically served a key role in the trade policy of the United States.Their purpose was to generate revenue for the federal government and to allow for import substitution industrialization (industrialization of a nation by replacing imports with domestic production) by acting as a protective barrier around infant industries. [1]