Under Harding, (1) taxes were reduced especially for corporations and the wealthy (2) high protective tariffs were enacted to help promote the success of American businesses. Harding's Secretary of the Interior (Albert Fall) rented public lands to oil companies in exchange for gifts and personal loans.

Warren Gamaliel Harding (November 2, 1865 – August 2, 1923) was an American politician who served as the 29th president of the United States from 1921 until his death in 1923. A member of the Republican Party, he was one of the most popular sitting U.S. presidents.

In 1923, Harding formally ended the American occupation of Germany and negotiated the payment of World War I reparations. In June 1923, he undertook a months-long Voyage of Understanding to tour the Western United States and the Territory of Alaska, also visiting British Columbia.

Two main economic goals of the Harding administration were to reduce the national debt and to promote economic growth.

He argued that the solution was to seek normalcy by restoring life to how it was before the war. Harding's conception of normalcy for the 1920s included deregulation, civic engagement, and isolationism.

Warren G. Harding's presidency had strengths, including his personable leadership and policies of low taxes and noninterference. His weaknesses, however, were significant, including involvement in a series of scandals, notably with the 'Ohio Gang,' and his inability to manage his advisors.

Harding also signed the Budget and Accounting Act, which established the country's first formal budgeting process and created the Bureau of the Budget. Another major aspect of his domestic policy was the Fordney–McCumber Tariff, which greatly increased tariff rates.