What Is the Payne-Aldrich Tariff Act?

The Payne-Aldrich Tariff Act is an act that was passed in 1909 to lower certain tariffs on goods entering the United States. It was named for Senators Sereno E. Payne of New York and Nelson W. Aldrich of Rhode Island.

The Payne-Aldrich Tariff Act is an act that started out as a bill in the House of Representatives to lower certain tariffs for goods entering into the U.S. President Taft called for a special session of Congress to discuss the bill in 1909. Then, the bill was substituted by one written by Senator Aldrich of Rhode Island, calling for more increases in tariffs and fewer restrictions.This act was the first time tariff laws were changed since 1897. The creation of a tariff board to study future tariff modifications also was a part of this act.