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:
“Religion enables us to ignore nothingness and get on with the jobs of life.”
—John Updike (b. 1932)
“Humour is the describing the ludicrous as it is in itself; wit is the exposing it, by comparing or contrasting it with something else. Humour is, as it were, the growth of nature and accident; wit is the product of art and fancy.”
—William Hazlitt (1778–1830)
“But the tax collector, standing far off, would not even look up to heaven, but was beating his breast and saying, ‘God, be merciful to me, a sinner!’”
—Bible: New Testament, Luke 18:13.
“At night thousands of names and slogans are outlined in neon, and searchlight beams often pierce the sky, perhaps announcing a motion picture premiere, perhaps the opening of a new hamburger stand.”
—For the State of California, U.S. public relief program (1935-1943)
“I’ve always thought a hotel ought to offer optional small animals.... I mean a cat to sleep on your bed at night, or a dog of some kind to act pleased when you come in. You ever notice how a hotel room feels so lifeless?”
—Anne Tyler (b. 1941)