The Tea Act 1773 was an Act of the Parliament of Great Britain. It was passed to help the financially strapped British East India Company and to help them reduce the massive amounts of tea in their London warehouses.
The Tea Act which was enacted in April of 1773, gave the East India Company a virtual monopoly on the importation and sale of tea in the American colonies. England had been victorious in the Seven Years War but now the country too was massively in debt. Parliament looked to the American colonies to ease their debt.
First, they passed the Stamp Act in 1765. The colonists rebelled against paying it, eventually resorting to mob violence to prevent paying for this tax which the colonists considered “taxation without representation” which would be repeated again. Eventually, Parliament would repeal the Stamp Act in 1766.