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Alternative baselines #388

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merged 5 commits into from
Apr 25, 2024
Merged

Alternative baselines #388

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aa1a861
allow baseline policy to pass through
jdebacker Apr 23, 2024
adfbf12
add tcja baseline
jdebacker Apr 23, 2024
feec44c
add tcja extension example notebook
jdebacker Apr 23, 2024
d060687
additional test cases
jdebacker Apr 24, 2024
dbc2e7b
pass reforms in tests
jdebacker Apr 24, 2024
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17 changes: 14 additions & 3 deletions ccc/get_taxcalc_rates.py
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Open in desktop
Original file line number Diff line number Diff line change
Expand Up @@ -7,6 +7,7 @@
def get_calculator(
baseline,
calculator_start_year,
baseline_policy=None,
reform=None,
data="cps",
gfactors=None,
Expand All @@ -19,6 +20,7 @@ def get_calculator(
Args:
baseline (bool): `True` if baseline tax policy
calculator_start_year (integer): first year of budget window
baseline_policy (dictionary): IIT baseline parameters
reform (dictionary): IIT reform parameters
data (string or Pandas DataFrame): path to file or DataFrame
for Tax-Calculator Records object (optional)
Expand Down Expand Up @@ -52,10 +54,14 @@ def get_calculator(
records1 = Records() # pragma: no cover

if baseline:
# Should not be a reform if baseline is True
assert not reform
if (
baseline_policy
): # if something other than current law policy baseline
update_policy(policy1, baseline_policy)

if not baseline:
if baseline_policy: # update baseline policy to layer reform on top
update_policy(policy1, baseline_policy)
update_policy(policy1, reform)

# the default set up increments year to 2013
Expand All @@ -73,7 +79,11 @@ def get_calculator(


def get_rates(
baseline=False, start_year=DEFAULT_START_YEAR, reform={}, data="cps"
baseline=False,
start_year=DEFAULT_START_YEAR,
baseline_policy=None,
reform={},
data="cps",
):
"""
This function computes weighted average marginal tax rates using
Expand All @@ -92,6 +102,7 @@ def get_rates(
calc1 = get_calculator(
baseline=baseline,
calculator_start_year=start_year,
baseline_policy=baseline_policy,
reform=reform,
data=data,
)
Expand Down
8 changes: 7 additions & 1 deletion ccc/parameters.py
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Original file line number Diff line number Diff line change
Expand Up @@ -26,6 +26,7 @@ def __init__(
baseline=False,
year=DEFAULT_START_YEAR,
call_tc=False,
baseline_policy=None,
iit_reform={},
data="cps",
):
Expand All @@ -34,6 +35,7 @@ def __init__(
self.test = test
self.baseline = baseline
self.year = year
self.baseline_policy = baseline_policy
self.iit_reform = iit_reform
self.data = data
# initialize parameter values from JSON
Expand All @@ -55,7 +57,11 @@ def ccc_initialize(self, call_tc=False):
if call_tc:
# Find individual income tax rates from Tax-Calculator
indiv_rates = get_rates(
self.baseline, self.year, self.iit_reform, self.data
self.baseline,
self.year,
self.baseline_policy,
self.iit_reform,
self.data,
)
self.tau_pt = indiv_rates["tau_pt"]
self.tau_div = indiv_rates["tau_div"]
Expand Down
276 changes: 276 additions & 0 deletions ccc/tcja_extension.json
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Original file line number Diff line number Diff line change
@@ -0,0 +1,276 @@
{
"BonusDeprec_3yr": [
{
"year": 2026,
"value": 0.4
}
],
"BonusDeprec_5yr": [
{
"year": 2026,
"value": 0.4
}
],
"BonusDeprec_7yr": [
{
"year": 2026,
"value": 0.4
}
],
"BonusDeprec_10yr": [
{
"year": 2026,
"value": 0.4
}
],
"BonusDeprec_15yr": [
{
"year": 2026,
"value": 0.4
}
],
"BonusDeprec_20yr": [
{
"year": 2026,
"value": 0.4
}
],
"tau_pt": [
{
"year": 2026,
"value": 0.20167244909882368
},
{
"year": 2027,
"value": 0.20348817617368892
},
{
"year": 2028,
"value": 0.20439272346443807
},
{
"year": 2029,
"value": 0.20308698621629706
},
{
"year": 2030,
"value": 0.2035939509415052
},
{
"year": 2031,
"value": 0.20240046451418342
},
{
"year": 2032,
"value": 0.2012693740494531
},
{
"year": 2033,
"value": 0.2006450797882713
}
],
"tau_div": [
{
"year": 2026,
"value": 0.17318090272505438
},
{
"year": 2027,
"value": 0.17432284289770666
},
{
"year": 2028,
"value": 0.17282374074928825
},
{
"year": 2029,
"value": 0.17340175754076134
},
{
"year": 2030,
"value": 0.17422447893073145
},
{
"year": 2031,
"value": 0.17454968182589295
},
{
"year": 2032,
"value": 0.1740630397322921
},
{
"year": 2033,
"value": 0.17390183556629837
}
],
"tau_int": [
{
"year": 2026,
"value": 0.3128559611626518
},
{
"year": 2027,
"value": 0.3139006325469027
},
{
"year": 2028,
"value": 0.31232532045301753
},
{
"year": 2029,
"value": 0.31278491973780054
},
{
"year": 2030,
"value": 0.3133435092632634
},
{
"year": 2031,
"value": 0.31314414677255953
},
{
"year": 2032,
"value": 0.31327752215037974
},
{
"year": 2033,
"value": 0.3129790702889989
}
],
"tau_scg": [
{
"year": 2026,
"value": 0.28336133996697926
},
{
"year": 2027,
"value": 0.2833684122562315
},
{
"year": 2028,
"value": 0.2828407445954024
},
{
"year": 2029,
"value": 0.2840791423502338
},
{
"year": 2030,
"value": 0.2845544888165263
},
{
"year": 2031,
"value": 0.28481607001900205
},
{
"year": 2032,
"value": 0.2848967373063876
},
{
"year": 2033,
"value": 0.285277625628927
}
],
"tau_lcg": [
{
"year": 2026,
"value": 0.18280630598531608
},
{
"year": 2027,
"value": 0.1830144476663731
},
{
"year": 2028,
"value": 0.1829679688634312
},
{
"year": 2029,
"value": 0.18388090065696877
},
{
"year": 2030,
"value": 0.18437947635832222
},
{
"year": 2031,
"value": 0.1847541804054145
},
{
"year": 2032,
"value": 0.1845754751225953
},
{
"year": 2033,
"value": 0.18508416618645537
}
],
"tau_td": [
{
"year": 2026,
"value": 0.2053038317366772
},
{
"year": 2027,
"value": 0.20649173093016085
},
{
"year": 2028,
"value": 0.20768641729537382
},
{
"year": 2029,
"value": 0.20816493005521833
},
{
"year": 2030,
"value": 0.2087589110312411
},
{
"year": 2031,
"value": 0.20936047682363962
},
{
"year": 2032,
"value": 0.20872441217334245
},
{
"year": 2033,
"value": 0.20792201918205175
}
],
"tau_h": [
{
"year": 2026,
"value": 0.03385918037116764
},
{
"year": 2027,
"value": 0.03376110325345599
},
{
"year": 2028,
"value": 0.03370990009622134
},
{
"year": 2029,
"value": 0.033444213400923
},
{
"year": 2030,
"value": 0.033168637894013954
},
{
"year": 2031,
"value": 0.032904420741914325
},
{
"year": 2032,
"value": 0.032489842789964196
},
{
"year": 2033,
"value": 0.03214152480222879
}
]
}
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