Jobs and Growth Tax Relief Reconciliation Act of 2003

Jobs and Growth Tax Relief Reconciliation Act of 2003

The Jobs and Growth Tax Relief Reconciliation Act (JGTRRA) of 2003 expedited the 2001 Bush tax cuts, making them apply retroactively to the 2003 tax year (originally they were meant to go into effect in 2006).  JGTRRA further reduced the capitol gains tax and altered the exemption amount for the Alternative Minimum Tax.

Cry Wolf Quotes

Apparently our president thinks that living in America is so wonderful that we will never leave, despite being directly attacked and held responsible for the political class’s inability to constrain its desire to buy votes with our money. He should think again.

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Glendon Esnard, president of capital markets for Grubb & Ellis (a real estate and investment firm), letter to the editor, Wall Street Journal.

Well let's get into the old class warfare again. Let's get the rich…The American people want us to stop spending and so let's just give 'em some certainty and let's extend the tax...existing tax cuts.

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John McCain, Fox News.

This is the largest tax increase in American history….the looming tax hike will make it harder for small businesses to keep their doors open. These are not only the people who create jobs, but not only that, they represent the spirit of America.

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The Glenn Beck Show, Fox News.

[This is] a fight to allow businesses, taxpayers and private industry to keep more of their money so that they can provide real stimulus and lasting growth to the economy.

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House minority whip Eric Cantor (R-VA), Wall Street Journal.

Evidence