Here is the History.com page on President's Day.
Presidents' Day, celebrated each year on the third Monday in February, is a day when Americans honor the legacies of the U.S. presidents. The holiday was established in 1800, when Congress declared February 22–George Washington's birthday–a federal holiday. Still legally known as Washington's Birthday, Presidents' Day has become a day to honor not only Washington, but Abraham Lincoln, the 16th U.S. president who was born on February 12, and the lives and accomplishments of all U.S. presidents.
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