What effect did the Revenue Act of 1926 have on Americans? a) It raised the estate taxes Americans had to pay. b) It increased the purchasing power of rich Americans. c) It provided tax relief in cases of natural disasters. d) It reformed the nation's system of taxation.

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Wesley Richardson

History

12 April, 21:38

What effect did the Revenue Act of 1926 have on Americans? a) It raised the estate taxes Americans had to pay. b) It increased the purchasing power of rich Americans. c) It provided tax relief in cases of natural disasters. d) It reformed the nation's system of taxation.

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Hannah Steele · Answer 1

The Revenue Act of 1926, which was signed by President Coolidge, mainly had an effect on upper-class Americans, because it eliminated many inheritance and "gift" taxes.