To cover the lost revueue , it instituted a tax on personal income above $4,000 .
By late May 1913 , House Majority Leader Oscar Underwood had passed a bill in the House that cut the average tariff rate by 10 % .
To cover the lost revueue , House instituted a tax on personal income above $4,000 .
By late May 1913 , House Majority Leader Oscar Underwood had passed a bill in the House that cut the average tariff rate by 10 % .