William Howard Taft Taft was handpicked by Roosevelt to continue his progressive policies He served from 1909 -1913 He continued Roosevelt’s attacks on trusts Broke up nearly twice as many as Roosevelt had He achieved democratic, social welfare, and economic reforms

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

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

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

Federal Reserve Board