S. 1922 · 108th Congress
American Manufacturing Jobs Act of 2003
- Stage
- In committee
- Sponsor
- Gordon Smith
- Introduced
- 2003-11-21
- Latest action
- 2003-11-21 · Introduced in Senate
Summary
American Manufacturing Jobs Act - Amends the Internal Revenue Code to repeal the exclusion from gross income of extraterritorial income (gross income attributable to foreign trading gross receipts).
Allows a deduction equal to nine percent of the qualified domestic production activities income, up to 50 percent of the W-2 wages paid by the employer for the taxable year.