The Job Growth and Tax Relief Reconciliation Act of 2003 (JGTRRA) reduced the rate at which capital

Question:

The Job Growth and Tax Relief Reconciliation Act of 2003 (JGTRRA) reduced the rate at which capital gains are taxed, but it included a “sunset” provision whereby the tax rate returned to its original level in 2009. How was this sunset provision likely to have affected capital gains tax realizations and revenues in 2008 and 2009?