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)
“All growth is a leap in the dark, a spontaneous unpremeditated act without benefit of experience.”
—Henry Miller (1891–1980)
“In 1845 he built himself a small framed house on the shores of Walden Pond, and lived there two years alone, a life of labor and study. This action was quite native and fit for him. No one who knew him would tax him with affectation. He was more unlike his neighbors in his thought than in his action. As soon as he had exhausted himself that advantages of his solitude, he abandoned it.”
—Ralph Waldo Emerson (1803–1882)
“Language was vigorous because, because ... editors usually “laid all the cards on the table so as to leave their hands ... free for more persuasive arguments!” The citizenry at large retaliated as best they could.”
—State of Utah, U.S. public relief program (1935-1943)
“It is not book-learning young men need, nor instruction about this and that, but a stiffening of the vertebrae which will cause them to be loyal to a trust, to act promptly, concentrate their energies: do the thing—”Carry a message to Garcia!””
—Elbert Hubbard (1856–1915)