What did the underwood tariff act of 1913 do?

Reduced taxes on manufactured goods and eliminated duties on raw materials. Lowering these taxes and fees resulted in the concurrent passage of the Sixteenth Amendment, which permitted direct income taxes.

The Underwood Tariff reduced and introduced a graduated income tax. It also charged American manufacturers who wanted to sell their goods overseas. At the same time, it required banks to keep a certain level of assets on hand to meet customer demand.(Most importantly, it made it more difficult for private industry to take natural resources from public lands.)

Hope I helped : )