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

Most economists believe that they [rich people] would spend the money and stimulate the economy.

-
Gretchen Carlson, co-host of Fox & Friends.

[The rich are] the people who've been hit hardest by this recession and who we need to create the jobs that will get us out of it.

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Senate Minority Leader Mitch McConnell (R-KY). Speech on the Senate floor.

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.

[Obama tax proposal is] a bullet in the head for an awful lot of people that are going to be laid off and an awful lot of people who are hoping to get their jobs back.

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U.S. Chamber of Commerce economist Martin Regalia, The Hill.

Evidence