The Labor-Management Relations Act, commonly known as the Taft-Hartley Act, is a significant U.S. labor law passed in 1947 that amended the Wagner Act of 1935. It includes provisions that regulate labor unions and employer practices, aiming to balance the power between employers and unions.
The Taft-Hartley Act, formally known as the Labor-Management Relations Act of 1947, aims to protect employers' rights to resist unionization and restrict union activities, imposing on unions many of the conditions for good faith bargaining previously imposed on management by earlier laws.
Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.