The United States Revenue Act of 1964 (Pub.L. 88-272), also known as the Tax Reduction Act, was a bipartisan tax cut bill signed by President Lyndon Johnson on February 26, 1964. Individual income tax rates were cut across the board by approximately 20%. In addition to individual income tax cuts, the act slightly reduced corporate tax rates and introduced a minimum standard deduction.
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—Bible: Hebrew, Proverbs 3:13-18.
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