Revenue Act of 1964


Revenue Act of 1964

The United States Revenue Act of 1964, signed February 26th, 1964 by President Lyndon Johnson [http://www.presidency.ucsb.edu/ws/index.php?pid=26084] , reduced individual income tax rates (the top rate fell from 91 percent to 70 percent) and, reduced the top corporate rate from 52 percent to 48 percent.

A minimum standard deduction of $300 plus $100 per exemption was created (maximum $1,000).

Inflation-adjusted numbers

[http://minneapolisfed.org/Research/data/us/calc/index.cfm Corrected for inflation] by CPI:


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