Jobs and Growth Tax Relief Reconciliation Act of 2003 Definition

Jobs and Growth Tax Relief Reconciliation Act of 2003

Definition

Federal legislation passed in May 2003 designed to improve the economy in the United States. This act was designed to spur spending by reducing taxes. It also classified dividend payments as long-term capital gains, subjecting dividends to lower rates than that of ordinary income.

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Review the unprecedented moves the Fed & Treasury took to bring the financial markets back from the precipice