Economic Opportunity Act signed into law

On August 20, 1964, President Lyndon B. Johnson signed into law the Economic Opportunity Act. The bill approved $1 billion for social programs to combat poverty. It was central to President Johnson’s Great Society legislation program.

Learn more about President Johnson’s War on Poverty from NPR.

THIS DAY @ LAW

Standard Oil incorporated

On January 10, 1870, John Davison Rockefeller incorporated Standard Oil. Rockefeller's corporation would grow to achieve a virtual monopoly over oil production in the United States. Standard Oil's dominance lasted until the corporation was split into 34 separate companies in 1911 after the Supreme Court found the company in violation of the Sherman Anti-Trust Act. The rise of Standard Oil made Rockefeller America's first billionaire and eventually the richest man in the world. Read the text of Standard Oil Co. of New Jersey vs. United States, 221 U.S. 1 (1910).