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:
“We have not been fair with the Negro and his education. He has not had adequate or ample education to permit him to qualify for many jobs that are open to him.”
—Lyndon Baines Johnson (1908–1973)
“This [new] period of parenting is an intense one. Never will we know such responsibility, such productive and hard work, such potential for isolation in the caretaking role and such intimacy and close involvement in the growth and development of another human being.”
—Joan Sheingold Ditzion and Dennie Palmer (20th century)
“In other words, a democratic government is the only one in which those who vote for a tax can escape the obligation to pay it.”
—Alexis de Tocqueville (1805–1859)
“To recover a buried treasure without having it disappear miraculously in the process, one must be entitled to it, and also be willing—really willing deep in his heart—to share it with the poor and helpless. Buried money, especially silver, gives off a bright glow which comes right up through the earth and can be seen as a dim light on nights when the weather is misty or there is a gentle rain.”
—Administration in the State of Ariz, U.S. public relief program (1935-1943)
“Ah, Marilyn, Hollywood’s Joan of Arc, our Ultimate Sacrificial Lamb. Well, let me tell you, she was mean, terribly mean. The meanest woman I have ever known in this town. I am appalled by this Marilyn Monroe cult. Perhaps it’s getting to be an act of courage to say the truth about her. Well, let me be courageous. I have never met anyone as utterly mean as Marilyn Monroe. Nor as utterly fabulous on the screen, and that includes Garbo.”
—Billy Wilder (b. 1906)