[123] Coolidge's ideas were shared by the Republicans in Congress, and in 1924, Congress passed the Revenue Act of 1924, which reduced income tax rates and eliminated all income taxation for some two million people.[123] They reduced taxes again by passing the Revenue Acts of 1926 and 1928, all the while continuing to keep spending down so as to reduce the overall federal debt.[124] By 1927, only the wealthiest 2% of taxpayers paid any federal income tax.[124] Federal spending remained flat during Coolidge's administration, allowing one-fourth of the federal debt to be retired in total. State and local governments saw considerable growth, however, surpassing the federal budget in 1927.[125] By 1929, after Coolidge's series of tax rate reductions had cut the tax rate to 24 percent on those making over $100,000, the federal government collected more than a billion dollars in income taxes, of which 65 percent was collected from those making over $100,000. In 1921, when the tax rate on people making over $100,000 a year was 73 percent, the federal government collected a little over $700 million in income taxes, of which 30 percent was paid by those making over $100,000.