The Smith-Hughes Act of 1917 established the Federal Board for Vocational Education, providing funding for vocational education programs in agriculture, home economics, trades and industry, and teacher training. It aimed to increase economic growth, reduce poverty, and improve the workforce by providing individuals with practical skills and knowledge in specific vocational areas. This act laid the foundation for modern vocational education in the United States, leading to the development of vocational schools and programs in secondary and post-secondary institutions.