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Minimum Wage
President John F. Kennedy signs legislation raising the minimum wage in stages from $1 per hour to $1.25 per hour. The minimum for workers subject to the Act was set at $1.00 an hour effective September 1961, $1.15 an hour in September 1964 -
JFK tax cuts
In a speech for the Economic Club of New York, President John Kennedy speaks about a plan for economic recovery that emphasizes large tax cuts and credits for businesses. One of his advisors labels it the most “Republican speech since McKinley.” These proposals will become part of the Tax Reduction Act signed into law in 1964. -
Johnson tax slashing
President Lyndon Johnson signs the Tax Reduction Act lowering income tax rates from a range of 20-91% to 14-70%. -
LBJ poverty war
In President Lyndon Johnson’s first inaugural address, he declares war on poverty and outlines an agenda aimed to reduce unemployment, increasing support for education and job training, and expanding public services for the poor. -
Transit Bill
President Lyndon Johnson signs the Urban Mass Transit Act . This act allocates $375 million for the construction of urban transit systems. -
LBJ sign job bill
President Lyndon Johnson signs the Economic Opportunity Act. In order to combat unemployment and poverty, this act allocates funds for job training, adult education, and loans to small businesses. -
Civil Rights Act
President Lyndon Johnson signs the Civil Rights Act of 1964. The act outlaws discrimination in public facilities, like parks, and in public buildings, such as hotels and restaurants, and it prohibits employment discrimination on the basis of race, ethnicity, religion, or gender. -
Medicare + Medicade
President Lyndon Johnson signs a bill creating Medicare, which is a national health insurance program for the elderly. Companion legislation created Medicaid, which provided health care for people on welfare. -
US enters Vietnam war
Entering the Vietnam war heavily impacted the U.S economy. President Johnson created cycles of inflation. The war also weakened the morale of U.S soldiers. -
Higher Education
President Lyndon Johnson signs the Higher Education Act, which creates the first federally funded college scholarships. -
Unemployement rate
Unemployment rates went up from 3.6 to 4 percent.
Minimum wage increased to $1.40 an hour. -
Band of housing discrimination
President Lyndon Johnson signs the Open Housing Act. This act outlaws discrimination of the sale or rental of most privately owned homes and apartments. -
Low income housing bill
President Lyndon Johnson signs a housing act which allocated more than $5 billion to meet the housing needs of low income families. The bill finances the construction and renovating of 1.7 million units and provides subsidies for housing purchases and rentals. -
Oil
Interest rates raise due to rapidly increasing oil prices. Expensive Vietnam war ends.