Historical Events tagged with "Carter"

Turns out history loves a label—battles, breakthroughs, and the occasional disaster, all neatly tagged for your browsing pleasure. Because sometimes you just need every weird invention in one place.

Politics & Government

Carter Enacts Profits Tax on Oil Industry

April 2nd, 1980 44 years ago

President Jimmy Carter signed the Crude Oil Windfall Profits Tax Act to impose a tax on excess profits earned by oil companies. The legislation aimed to address the economic impacts of rising oil prices due to the 1979 energy crisis, which raised gasoline prices and increased consumer costs. Advocates argued that the tax would help generate revenue for federal programs and mitigate inflation. The act was signed in Washington, D.C., reflecting the growing concern over energy dependency and the need for economic relief.

Continue Reading
Economics & Industry

Carter Approves $1.5 Billion for Chrysler

January 7th, 1980 45 years ago

U.S. President Jimmy Carter approved a significant loan package to aid Chrysler Corporation in January 1980. The auto industry faced economic challenges, marked by rising oil prices and increased foreign competition. The authorization of $1.5 billion in loans aimed to stabilize Chrysler, safeguarding jobs and bolstering the economy. This financial assistance reflected the government's intervention in the private sector during economic turbulence.

Continue Reading