Jobs and Growth Tax Relief Reconciliation Act of 2003
"JGTRRA" / From Wikipedia, the free encyclopedia
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The Jobs and Growth Tax Relief Reconciliation Act of 2003 ("JGTRRA", Pub. L.Tooltip Public Law (United States) 108–27 (text) (PDF), 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.[1]
Long title | An act to provide for reconciliation pursuant to section 201 of the concurrent resolution on the budget for fiscal year 2004. |
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Acronyms (colloquial) | JGTRRA |
Enacted by | the 108th United States Congress |
Citations | |
Public law | Pub. L.Tooltip Public Law (United States) 108–27 (text) (PDF) |
Statutes at Large | 117 Stat. 752 |
Legislative history | |
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Major amendments | |
Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 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".