For Immediate Release
Office of the Press Secretary
October 22, 2004
Statement on H.R. 4520, the American Jobs Creation Act of 2004
October 22, 2004
STATEMENT BY THE PRESS SECRETARY
The President today signed into law:
H.R. 4520, the "American Jobs Creation Act of 2004," which repeals
the extraterritorial income exclusion in current tax law; provides
domestic manufacturing and other business tax relief, including
energy-related tax credits; allows for itemized deduction of State and
local sales taxes; provides for reform of tobacco subsidies; includes
international tax reform and simplification provisions; and includes
various revenue-raising provisions.
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