The Victory Tax was a 5%

income tax An income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income). Income tax generally is computed as the product of a tax rate times the taxable income. Tax ...

established in the United States by the

Revenue Act of 1942 The United States Revenue Act of 1942, Pub. L. 753, Ch. 619, 56 Stat. 798 (Oct. 21, 1942), increased individual income tax rates, increased corporate tax rates (top rate rose from 31% to 40%), and reduced the personal exemption amount from $1,500 to ...

. Congress attempted to reduce the tax to 3% in the Revenue Act of 1943; that bill was vetoed by President Roosevelt, but his veto was overridden. The tax was eliminated in the Individual Income Tax Act of 1944.

References

United States federal income tax {{Tax-stub