Which act provided for an old-age pension and unemployment insurance as part of the New Deal?

Which act provided for an old-age pension and unemployment insurance as part of the New Deal?

• A. Interstate Commerce Act
• B. Securities and Exchange Commission
• C. FDIC (Federal Deposit Insurance Corporation)
• D. Social Security Act of 1935

Answer: (D)

This question tests recognizing which New Deal measure created an old-age pension and unemployment insurance. The Social Security Act of 1935 established a national social insurance program that provided retirement benefits funded by payroll taxes and unemployment insurance administered through state programs. It was a cornerstone of the New Deal’s shift toward protecting workers from economic hardship and laid the groundwork for ongoing social welfare in the United States. Other listed reforms served different purposes: the Interstate Commerce Act focused on regulating railroads, the Securities and Exchange Commission oversees securities markets, and the FDIC insures bank deposits.

This question tests recognizing which New Deal measure created an old-age pension and unemployment insurance. The Social Security Act of 1935 established a national social insurance program that provided retirement benefits funded by payroll taxes and unemployment insurance administered through state programs. It was a cornerstone of the New Deal’s shift toward protecting workers from economic hardship and laid the groundwork for ongoing social welfare in the United States. Other listed reforms served different purposes: the Interstate Commerce Act focused on regulating railroads, the Securities and Exchange Commission oversees securities markets, and the FDIC insures bank deposits.