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Joint Economic Committee Releases Report on Effectiveness of 2003 Tax Act

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The Joint Economic Committee has released How Effective was The Jobs and Growth Tax Relief Reconciliation Act of 2003?  Here is the opening:

The Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA) was designed to encourage balanced economic growth. In addition to stimulating consumer spending and short-term economic growth, the JGTRRA was intended to promote investment, capital formation and long-term growth. The efficacy of the JGTRRA has been the subject of debate in recent policy disputes and in academic and popular publications. Many of the criticisms have questioned the adequacy of the economic stimulus to increase consumer spending. The key issue, however, is whether the JGTRRA stimulated investment.


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