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:
“While most of today’s jobs do not require great intelligence, they do require greater frustration tolerance, personal discipline, organization, management, and interpersonal skills than were required two decades and more ago. These are precisely the skills that many of the young people who are staying in school today, as opposed to two decades ago, lack.”
—James P. Comer (20th century)
“We already have the statistics for the future: the growth percentages of pollution, overpopulation, desertification. The future is already in place.”
—Günther Grass (b. 1927)
“Change of fashion is the tax levied by the industry of the poor on the vanity of the rich.”
—Sébastien-Roch Nicolas De Chamfort (1741–1794)
“Costs less to keep than a horse. Doesn’t get sick. Doesn’t eat when it doesn’t work.”
—State of Indiana, U.S. public relief program (1935-1943)
“The act of putting into your mouth what the earth has grown is perhaps your most direct interaction with the earth.”
—Frances Moore Lappé (b. 1944)