Coolidge addressed Congress when it reconvened on December 6, 1923, giving a speech that supported many of Harding's policies, including Harding's formal budgeting process, the enforcement of immigration restrictions and arbitration of coal strikes ongoing in Pennsylvania. Coolidge's speech was the first presidential speech to be broadcast over the radio. The Washington Naval Treaty was proclaimed just one month into Coolidge's term, and was generally well received in the country. In May 1924, the World War I veterans' World War Adjusted Compensation Act or "Bonus Bill" was passed over his veto. Coolidge signed the Immigration Act later that year, which was aimed at restricting southern and eastern European immigration, but appended a signing statement expressing his unhappiness with the bill's specific exclusion of Japanese immigrants. Just before the Republican Convention began, Coolidge signed into law the Revenue Act of 1924, which reduced the top marginal tax rate from 58% to 46%, as well as personal income tax rates across the board, increased the estate tax and bolstered it with a new gift tax.