Job Creation and Worker Assistance Act of 2002

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Job Creation and Worker Assistance Act of 2002

Legislation in the United States that reduced taxes on businesses without changing tax brackets. It accomplished this by temporarily increasing deductions, exemptions, and the number of years for which one may use a tax loss carryback. The idea behind the Act was to encourage job creation by allowing businesses to keep more of their earnings. The effects of this type of policy are disputed.
References in periodicals archive ?
California has not conformed to the changes governing depreciation in the federal Job Creation and Worker Assistance Act of 2002 and the Growth Tax Relief Reconciliation Act of 2003.
The Job Creation and Worker Assistance Act of 2002 made a number of changes to the tax law to offer short-term help to the unemployed and long-term stimulus to create jobs.
Under the first provision of the Job Creation and Worker Assistance Act of 2002, signed into law in March 2002, the Company is allowed to carry-back its 2001 net operating loss for five years, to 1996, instead of two years under previous law.
President Bush signed the Job Creation and Worker Assistance Act of 2002 (H.
Section 403(a) of the Job Creation and Worker Assistance Act of 2002 (JCWAA) amended Sec.
3090, the Job Creation and Worker Assistance Act, an economic stimulus package designed to provide relief to businesses and individuals affected by the economic downturn.