may 10, 1773 - Tea Act May 10, 1773

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The Tea Act was passed by the British Parliament on May 10, 1773, and was designed to save the struggling British East India Company from bankruptcy. It did this by giving the British East India Company a monopoly on all tea being imported into the colonies, which allowed them to lower the prices of the tea. Many colonists advocated for a boycott of the British tea because they felt that paying the tax would essentially be them recognizing Parliament’s ability to tax them as British subjects.

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