Main Page | Recent changes | View source | Page history

Printable version | Disclaimers | Privacy policy

Not logged in
Log in | Help

American Jobs Creation Act of 2004

From dKosopedia



The American Jobs Creation Act of 2004, P.L. 108-357 (HR 4520) was enacted in response to a WTO order and EU trade sanctions related to a little known tax break for U.S. exporters. The old tax break was replaced with a major (and complex) tax break for businesses (regardless of organizational form) that engage in domestic manufacturing activities. It also created a host of other new business tax breaks, and balanced these business tax breaks by eliminating a host of other business tax breaks. It claims to be revenue neutral, but does so with a variety of gimmicks (like "temporary" changes that never get repealed).

Some of the notable tax breaks in the bill include:

Some of the notable tax increases ("revenue provisions") in the bill come from:

Needless to say, the bill is complex. It passed the House on October 7, 2004, and passed the Senate on October 11, 2004 and was signed by the President without ceremony on Air Force One on October 22, 2004. The Bill finally passed has the following provisions.

Links Discussing the Law

American Jobs Creation Act of 2004 Revenue Impacts

From the Joint Committee on Taxation JCX-69-04 (October 7, 2004). All figures in millions of dollars of tax revenue over the entire 2005-2014 time period. While the Joint Committee on Taxation found that the bill was revenue neutral, the Congressional Budget Office (under the supervision of a Republican controlled Congress) does not agree, finding that this bill adds billions of dollars to the deficit.

Major Revenue Increases (2005-2014) ($500 million or more)

Major Tax Cuts (2005-2014) ($500 million or more)

Retrieved from "http://localhost../../../a/m/e/American_Jobs_Creation_Act_of_2004_5578.html"

This page was last modified 18:52, 2 July 2006 by Chad Lupkes. Based on work by Andrew Oh-Willeke. Content is available under the terms of the GNU Free Documentation License.

[Main Page]
Daily Kos
DailyKos FAQ

View source
Discuss this page
Page history
What links here
Related changes

Special pages
Bug reports