hiː ˈɔːlsoʊ sˈaɪnd ðə ɹˈɛvənˌuː ˈækt ʌv wˈʌn θˈaʊzənd ˈeɪthˈʌndɹɪd sˈɪksti wˈʌn, kɹiːˈeɪɾɪŋ ðə fˈɜːst jˈuː.ˈɛs. ˈɪŋkʌm tˈæks—ɐ flˈæt tˈæks ʌv θɹˈiː pɚsˈɛnt ˌɔn ˈɪŋkʌmz əbˌʌv dˈɑːlɚɹ ˈeɪthˈʌndɹɪd.
He also signed the Revenue Act of 1861, creating the first U.S. income tax—a flat tax of 3 percent on incomes above $800 ().