Republicans push for high tariffs while Democrats want low tariffs. Republicans argued lower tariffs would destroy business prosperity. The Congress passes the first billion-dollar budget in U.S. history. It enacted the following: the McKinley Tariff of 1890 raised tax on foreign products to high over 48%; the Sherman Antitrust Act, the first law to limit monopolies in the U.S.; a bill to protect the voting rights of African Americans, and the Sherman Silver Purchase Act of 1890, which increased the value of silver. The Alliance movement provided the foundation of a new political party, the Populist, party. Delegates from met in Omaha, Nebraska, in 1892 to draft a political platform and nominate candidates for president and vice president for the new party. Their Omaha platform called for both political and economic reforms. Politically, the Omaha platform demanded restoration of government to the people by the means of enacting of state laws by voters themselves and direct popular election of U.S. Senators through initiatives and referendums placed on ballot. Economically, Populists supported: a graduated income tax, public ownership of railroads by U.S. government, 8-hour day for industrial workers, and telegraph and telephone owned and operated by government. The Wilson-Gorman a tariff (1894) provided modern reduction in tariff rates and included 2% income tax on incomes of more than $2,000.