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

[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.

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

[We have] High unemployment because small businesses, people who make $250,000 a year, are not spending and investing and it will get worse if we don’t extend those tax cuts.

-
Sean Hannity, Fox News' Hannity.

I hate to tell you, by Washington's definitions that [Melancon]'s using, virtually everybody in this audience is the wealthy.

-
Sen. David Vitter (R-LA)

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.

-
The Glenn Beck Show, Fox News.

Evidence