Tag us congress authorized war bonds

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In the United States, Congress has authorized the sale of war bonds to finance military efforts on several occasions. Here are a few examples:

  1. World War I (1917-1918): The War Revenue Act of 1917 authorized the sale of Liberty Bonds to finance the war effort. The bonds were sold to the public, with the government offering a guaranteed return of 3.5% to 4.5% per year.
  2. World War II (1941-1945): The War Revenue Act of 1941 authorized the sale of War Bonds, which were sold to the public through a variety of channels, including banks, post offices, and employers. The bonds offered a range of returns, from 2.9% to 4.5% per year.
  3. Korean War (1950-1953): The Revenue Act of 1950 authorized the sale of Defense Bonds to finance the Korean War effort. The bonds offered a return of 2.5% to 4.5% per year.
  4. Vietnam War (1955-1975): The Revenue Act of 1962 authorized the sale of Defense Bonds to finance the Vietnam War effort. The bonds offered a return of 2.5% to 4.5% per year.
  5. Gulf War (1990-1991): The Omnibus Budget Reconciliation Act of 1990 authorized the sale of Patriot Bonds to finance the Gulf War effort. The bonds offered a return of 5.5% to 6.5% per year.
  6. War on Terror (2001-present): The USA PATRIOT Act of 2001 authorized the sale of Patriot Bonds to finance the War on Terror effort. The bonds offered a return of 4.5% to 6.5% per year.

In each of these cases, Congress authorized the sale of war bonds to finance military efforts, and the bonds were sold to the public through various channels. The returns on these bonds were generally lower than those offered by other government securities, but they were seen as a way to support the war effort and promote national unity.