Supporters of the New Jersey Plan believed that some of the ideas in the Articles of Confederation needed to be amended. For example, they believed that every state should be considered equal, regardless of its size and population. They also believed that Congress had the right to tax.
Related Question in Social Studies
- Federal Reserve policymakers cut their short-term interest rate target an aggressive half-point to 2% on Tuesday… This cut was the Fed’s 10th attempt this year to support the U.S. economy, which is still weakening after Sept. 11 attacks. The moves represent some of the most furious rate-cutting in Fed history… Fed officials have now pushed the rate banks charge each other for overnight loans to its lowest level since 1961…Major banks lowered the prime rate in [lockstep] with the Fed, bringing down to 5% from 5.5%. That translates into lower rates for home-equity loans, business loans, and some credit cards. By taking the actions described in the passage above, the Fed was likely trying to: decrease business activity decrease the money supply increase the amount of money that banks must keep in reserves increase business activity
- During the Constitutional Convention, the Commerce and Slave Trade Compromise gave Congress the power to regulate commerce in the South but not the North. regulate commerce in the North but not the South. choose its own members as well as the nation’s chief executive. amend the Constitution of the United States with a majority vote.