The Jobs and Growth Tax Relief Reconciliation Act of 2003 ("JGTRRA", Pub.L. 108-27, 117 Stat. 752), was passed by the United States Congress on May 23, 2003 and signed into law by President George W. Bush on May 28, 2003. Nearly all of the cuts (individual rates, capital gains, dividends, estate tax) were set to expire after 2010.
Among other provisions, the act accelerated certain tax changes passed in the Economic Growth and Tax Relief Reconciliation Act of 2001, increased the exemption amount for the individual Alternative Minimum Tax, and lowered taxes of income from dividends and capital gains. The 2001 and 2003 acts are known together as the "Bush tax cuts".
Read more about Jobs And Growth Tax Relief Reconciliation Act Of 2003: Description of Cuts, Legislative History, Tax Bracket Comparison
Famous quotes containing the words jobs, growth, tax, relief and/or act:
“The problem is simply this: no one can feel like CEO of his or her life in the presence of the people who toilet trained her and spanked him when he was naughty. We may have become Masters of the Universe, accustomed to giving life and taking it away, casually ordering people into battle or out of their jobs . . . and yet we may still dirty our diapers at the sound of our mommy’s whimper or our daddy’s growl.”
—Frank Pittman (20th century)
“All growth is a leap in the dark, a spontaneous unpremeditated act without benefit of experience.”
—Henry Miller (1891–1980)
“Rumble thy bellyful! Spit, fire! Spout, rain!
Nor rain, wind, thunder, fire are my daughters.
I tax you not, you elements, with unkindness;
I never gave you kingdom, called you children.”
—William Shakespeare (1564–1616)
“It is told that some divorcees, elated by their freedom, pause on leaving the courthouse to kiss a front pillar, or even walk to the Truckee to hurl their wedding rings into the river; but boys who recover the rings declare they are of the dime-store variety, and accuse the throwers of fraudulent practices.”
—Administration in the State of Neva, U.S. public relief program. Nevada: A Guide to the Silver State (The WPA Guide to Nevada)
“To act with doubleness towards a man whose own conduct was double, was so near an approach to virtue that it deserved to be called by no meaner name than diplomacy.”
—George Eliot [Mary Ann (or Marian)