1. William Howard Taft
Taft was handpicked by Roosevelt to continue his progressive policies
He served from
He continued Roosevelt’s attacks on trusts
Broke up nearly twice as many as Roosevelt had
He achieved democratic, social welfare, and economic reforms

2. Amendments Under Taft
16th Amendment – gave Congress the power to create federal income taxes
Intent was to spread the cost of running the government among more people
The income tax became an important new source of federal revenue
17th Amendment – gave voters the right to directly elect senators
Formerly, senators were chosen by state legislatures
This eliminated some corruption an gave people a more direct voice in government

3. Woodrow Wilson He served from 1913 - 1921
Wilson urged Congress to pass the Clayton Antitrust Act, 1914
Placed more restrictions on practices that lessoned competition
Gave government more power to regulate trusts
Allowed unions to expand
Legalized strikes

4. Under Wilson, Congress also reformed the nation’s financial system
Federal Reserve Act – created the modern banking system in the U.S.
Ensures money is distributed where it is needed
Created a more flexible currency system by allowing banks to control the money supply
Lowered interest rate for banks
This enables them to borrow more money, and in turn, lend more to consumers

5. Federal Reserve Board