Final answer:
The Smith-Hughes Act is important because it funded higher education and promoted equal opportunities for education and employment.
Step-by-step explanation:
The Smith-Hughes Act was a significant piece of legislation that had a lasting impact on funding higher education in the United States.
It was signed into law by President Johnson and has been renewed several times since then. The Act provided financial support for vocational education and helped millions of Americans gain access to higher education.
Through this Act, the government showed its commitment to investing in 'human capital' and promoting equal opportunities for education and employment.