Revenue Act of 1964

§ LEGISLATIONtax· 1964

SignedFebruary 26, 1964PresidentLyndon B. Johnson (D)Congress88th · House: D · Senate: D

What It Did

Cut individual income tax rates across the board, reducing the top marginal rate from 91% to 70% and the bottom rate from 20% to 14%. Also reduced corporate tax rates. Proposed by Kennedy and signed by Johnson, it was a landmark application of Keynesian fiscal stimulus.

The Vote

House · 326–83 (passage)

223 YEA · 29 NAY

103 YEA · 54 NAY

Senate · 77–21 (passage)

56 YEA · 11 NAY

21 YEA · 10 NAY

Key Sponsors

→ Wilbur Mills (D-AR) · House

→ Harry F. Byrd (D-VA) · Senate

→ Tax Reform Act 1986

→ Egtrra 2001

Sources: Congress.gov · VoteView · FRED

In the Years Following

Economic indicators related to this law, showing 5 years before through 10 years after.

Avg Hourly Earnings (Production)

Corporate Profits After Tax

Gini Index (Inequality)

Unemployment Rate

Many factors influence economic outcomes. This chart shows trends in the years surrounding this legislation — not necessarily caused by it.