Revenue Act of 1964 is adopted in Washington, D.C.
1964
Signed by President Lyndon Johnson, the law reduces the top income tax bracket from 91% to 70%, establishes a minimum standard deduction, and lowers the corporate tax rate from 52% to 48%.
Signed by President Lyndon Johnson, the law reduces the top income tax bracket from 91% to 70%, establishes a minimum standard deduction, and lowers the corporate tax rate from 52% to 48%.