In February 1832, Clay, back in the Senate after a two-decade absence, made a three-day speech calling for a new tariff schedule and an expansion of his American System. In an effort to reach out to Calhoun and other Southerners, Clay's proposal provided for a $10 million revenue reduction based on the budget surplus he anticipated for the coming year. Significant protection was still part of the plan, as the reduction primarily came on imports not in competition with domestic producers. Jackson proposed an alternative that reduced overall tariffs to 28%. John Quincy Adams, now in the House of Representatives, used his Committee of Manufacturers to produce a compromise bill that, in its final form, reduced revenues by $5 million, lowered duties on noncompetitive products, and retained high tariffs on woolens, iron, and cotton products. During the political maneuvering, McDuffie's Ways and Means Committee, the normal originator of such bills, prepared a bill with drastic reduction across the board, but it went nowhere. Jackson signed the Tariff of 1832 on July 14, 1832, a few days after vetoing the Bank of the United States recharter bill. Congress adjourned after failing to override Jackson's veto.