In the concurrent congressional elections, Democrats retained control of the House and won a majority in the Senate. By late-May 1913, House Majority Leader Oscar Underwood had passed a bill in the House that cut the average tariff rate by 10 percent. Underwood's bill, which represented the largest downward revision of the tariff since the Civil War, aggressively cut rates for raw materials, goods deemed to be 'necessities,' and products produced domestically by trusts, but it retained higher tariff rates for luxury goods. The bill also instituted a tax on personal income above $4,000.
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