[100]
Coolidge addressed Congress when it reconvened on December 6, 1923, giving a speech that supported many of Harding's policies, including Harding's formal budgeting process, the enforcement of immigration restrictions and arbitration of coal strikes ongoing in Pennsylvania.[101] The address to Congress was the first presidential speech to be broadcast over the radio.[102] The Washington Naval Treaty was proclaimed just one month into Coolidge's term, and was generally well received in the country.[103] In May 1924, the World War I veterans' World War Adjusted Compensation Act or "Bonus Bill" was passed over his veto.[104] Coolidge signed the Immigration Act later that year, which was aimed at restricting southern and eastern European immigration, but appended a signing statement expressing his unhappiness with the bill's specific exclusion of Japanese immigrants.[105] Just before the Republican Convention began, Coolidge signed into law the Revenue Act of 1924, which reduced the top marginal tax rate from 58% to 46%, as well as personal income tax rates across the board, increased the estate tax and bolstered it with a new gift tax.