diff --git a/taxcalc/policy_current_law.json b/taxcalc/policy_current_law.json index 202a7d582..074bbd799 100644 --- a/taxcalc/policy_current_law.json +++ b/taxcalc/policy_current_law.json @@ -12047,7 +12047,7 @@ }, { "year": 2020, - "value": 0.15 + "value": 0.12 }, { "year": 2021, @@ -12410,7 +12410,7 @@ }, { "year": 2020, - "value": 0.25 + "value": 0.22 }, { "year": 2021, @@ -12773,7 +12773,7 @@ }, { "year": 2020, - "value": 0.28 + "value": 0.24 }, { "year": 2021, @@ -13862,7 +13862,7 @@ }, { "year": 2020, - "value": 0.396 + "value": 0.37 }, { "year": 2021, diff --git a/taxcalc/records_variables.json b/taxcalc/records_variables.json index 2e76840d9..b6d2e259a 100644 --- a/taxcalc/records_variables.json +++ b/taxcalc/records_variables.json @@ -823,7 +823,7 @@ }, "c05200": { "type": "float", - "desc": "Tax amount from Sch X,Y,X tables", + "desc": "Tax amount from Sch X,Y,Z tables", "form": {"2013-20??": "calculated variable"} }, "c05700": { diff --git a/taxcalc/reforms/TCJA.json b/taxcalc/reforms/TCJA.json index ba7077ad9..a57108ebd 100644 --- a/taxcalc/reforms/TCJA.json +++ b/taxcalc/reforms/TCJA.json @@ -54,24 +54,16 @@ "PT_rt1": {"2018": 0.10, "2026": 0.10}, "PT_rt2": {"2018": 0.12, - "2020": 0.15, - "2021": 0.12, "2026": 0.15}, "PT_rt3": {"2018": 0.22, - "2020": 0.25, - "2021": 0.22, "2026": 0.25}, "PT_rt4": {"2018": 0.24, - "2020": 0.28, - "2021": 0.24, "2026": 0.28}, "PT_rt5": {"2018": 0.32, "2026": 0.33}, "PT_rt6": {"2018": 0.35, "2026": 0.35}, "PT_rt7": {"2018": 0.37, - "2020": 0.396, - "2021": 0.37, "2026": 0.396}, "PT_brk1": {"2018": [9525, 19050, 9525, 13600, 19050], "2026": [11242, 22484, 11242, 16094, 22484]}, diff --git a/taxcalc/tests/cpscsv_agg_expect.csv b/taxcalc/tests/cpscsv_agg_expect.csv index 60e4451a7..dd89c380c 100644 --- a/taxcalc/tests/cpscsv_agg_expect.csv +++ b/taxcalc/tests/cpscsv_agg_expect.csv @@ -2,24 +2,24 @@ Returns (#m),187.1,199.2,201.9,204.5,207.1,209.7,212.3,214.9,217.5,220.1 AGI ($b),9087.6,10714.8,11167.0,11573.2,13174.9,13543.8,14390.3,15077.5,15785.3,16457.7 Itemizers (#m),62.8,24.0,25.1,27.5,31.2,31.2,29.8,29.4,30.4,81.1 -Itemized Deduction ($b),1218.6,613.4,656.3,745.5,863.7,883.2,888.9,915.0,964.2,2180.7 -Standard Deduction Filers (#m),124.3,175.3,176.8,176.9,175.7,178.4,182.4,185.4,187.1,139.1 -Standard Deduction ($b),1092.1,2949.5,3024.6,3080.6,3090.6,3229.8,3547.8,3805.0,3936.4,1613.3 +Itemized Deduction ($b),1218.6,613.4,656.3,746.7,863.7,883.2,888.9,915.0,964.2,2180.7 +Standard Deduction Filers (#m),124.3,175.3,176.8,176.8,175.7,178.4,182.4,185.4,187.1,139.1 +Standard Deduction ($b),1092.1,2949.5,3024.6,3079.1,3090.6,3229.8,3547.8,3805.0,3936.4,1613.3 Personal Exemption ($b),1383.6,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,2081.6 -Taxable Income ($b),6230.6,7957.8,8321.4,8613.7,10048.2,10330.4,10946.5,11424.4,11988.0,11782.5 -Regular Tax ($b),1108.0,1379.8,1448.8,1504.8,1762.5,1837.0,1937.1,2016.1,2122.9,2339.6 -AMT Income ($b),8319.8,10261.9,10680.3,11017.5,12528.9,12879.7,13716.5,14379.0,15047.4,15074.1 -AMT Liability ($b),8.1,0.8,0.7,0.6,1.9,1.1,1.1,1.0,1.0,17.2 -AMT Filers (#m),2.6,0.2,0.2,0.1,0.3,0.2,0.2,0.2,0.2,4.1 -Tax before Credits ($b),1116.0,1380.6,1449.5,1505.4,1764.4,1838.1,1938.2,2017.1,2123.8,2356.8 -Refundable Credits ($b),70.8,102.5,102.7,654.9,827.1,98.5,106.4,111.6,112.1,97.7 -Nonrefundable Credits ($b),32.7,97.2,99.1,99.3,0.0,107.7,108.3,109.3,111.2,29.9 +Taxable Income ($b),6230.6,7957.8,8321.4,8613.9,10048.2,10330.4,10946.5,11424.4,11988.0,11782.5 +Regular Tax ($b),1108.0,1379.8,1448.8,1497.1,1762.5,1837.0,1937.1,2016.1,2122.9,2339.6 +AMT Income ($b),8319.8,10261.9,10680.3,11016.8,12528.9,12879.7,13716.5,14379.0,15047.4,15074.1 +AMT Liability ($b),8.1,0.8,0.7,0.9,1.9,1.1,1.1,1.0,1.0,17.2 +AMT Filers (#m),2.6,0.2,0.2,0.2,0.3,0.2,0.2,0.2,0.2,4.1 +Tax before Credits ($b),1116.0,1380.6,1449.5,1498.0,1764.4,1838.1,1938.2,2017.1,2123.8,2356.8 +Refundable Credits ($b),70.8,102.5,102.7,655.0,827.1,98.5,106.4,111.6,112.1,97.7 +Nonrefundable Credits ($b),32.7,97.2,99.1,99.2,0.0,107.7,108.3,109.3,111.2,29.9 Reform Surtaxes ($b),0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0 Other Taxes ($b),5.5,10.7,11.3,12.6,13.9,14.4,16.5,17.6,18.8,19.9 -Ind Income Tax ($b),1018.1,1191.5,1259.0,763.7,951.1,1646.2,1740.0,1813.7,1919.2,2249.0 +Ind Income Tax ($b),1018.1,1191.5,1259.0,756.4,951.1,1646.2,1740.0,1813.7,1919.2,2249.0 Payroll Taxes ($b),1040.8,1141.6,1194.9,1217.9,1318.7,1421.6,1506.7,1582.0,1656.7,1730.7 -Combined Liability ($b),2059.0,2333.1,2453.9,1981.7,2269.8,3067.8,3246.7,3395.7,3575.9,3979.7 -With Income Tax <= 0 (#m),88.1,96.2,97.0,135.2,127.8,96.1,97.9,99.2,99.6,97.4 +Combined Liability ($b),2059.0,2333.1,2453.9,1974.3,2269.8,3067.8,3246.7,3395.7,3575.9,3979.7 +With Income Tax <= 0 (#m),88.1,96.2,97.0,135.4,127.8,96.1,97.9,99.2,99.6,97.4 With Combined Tax <= 0 (#m),62.8,65.4,66.4,98.2,97.7,67.9,69.3,70.5,71.3,70.7 UBI Benefits ($b),0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0 "Total Benefits, Consumption Value ($b)",2790.7,3225.5,3429.9,3617.0,3993.0,4069.6,4390.5,4696.3,4983.2,5266.5 diff --git a/taxcalc/tests/pufcsv_agg_expect.csv b/taxcalc/tests/pufcsv_agg_expect.csv index 774ebb597..1ca531e85 100644 --- a/taxcalc/tests/pufcsv_agg_expect.csv +++ b/taxcalc/tests/pufcsv_agg_expect.csv @@ -1,26 +1,26 @@ ,2017,2018,2019,2020,2021,2022,2023,2024,2025,2026 Returns (#m),190.9,194.3,197.3,200.1,202.9,205.6,208.4,211.2,214.0,216.8 AGI ($b),11078.7,11816.6,12247.2,12722.3,14930.0,14973.9,15955.0,16597.5,17310.2,17852.5 -Itemizers (#m),45.7,19.5,20.1,21.0,22.7,22.9,21.7,21.2,21.3,51.9 -Itemized Deduction ($b),1274.3,605.3,636.4,692.6,764.2,784.9,789.0,808.3,834.6,2047.9 -Standard Deduction Filers (#m),145.2,174.7,177.1,178.5,179.5,182.7,186.7,189.9,192.6,164.8 -Standard Deduction ($b),1239.3,2862.1,2951.5,3025.6,3078.3,3231.2,3546.7,3807.7,3963.4,1856.2 +Itemizers (#m),45.7,19.5,20.1,21.1,22.7,22.9,21.7,21.2,21.3,51.9 +Itemized Deduction ($b),1274.3,605.3,636.4,694.6,764.2,784.9,789.0,808.3,834.6,2047.9 +Standard Deduction Filers (#m),145.2,174.7,177.1,178.4,179.5,182.7,186.7,189.9,192.6,164.8 +Standard Deduction ($b),1239.3,2862.1,2951.5,3023.0,3078.3,3231.2,3546.7,3807.7,3963.4,1856.2 Personal Exemption ($b),1365.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,1959.2 -Taxable Income ($b),8112.2,9178.5,9519.7,9905.7,12002.2,11926.7,12691.5,13123.9,13696.5,13377.8 -Regular Tax ($b),1656.8,1712.2,1778.1,1861.7,2281.4,2282.6,2421.6,2488.0,2599.1,2792.6 -AMT Income ($b),10512.4,11427.2,11835.2,12266.2,14423.4,14452.5,15424.7,16049.3,16741.5,16934.0 -AMT Liability ($b),51.3,23.2,24.1,25.1,29.0,28.6,30.0,31.5,33.0,85.1 -AMT Filers (#m),5.7,0.6,0.6,0.3,0.7,0.6,0.6,0.6,0.6,7.4 -Tax before Credits ($b),1708.1,1735.4,1802.2,1886.8,2310.4,2311.2,2451.6,2519.4,2632.1,2877.6 -Refundable Credits ($b),102.9,117.5,118.5,641.8,802.6,119.2,127.1,133.0,135.2,121.9 -Nonrefundable Credits ($b),67.0,127.3,129.2,128.7,47.6,140.8,143.3,144.0,145.9,78.0 +Taxable Income ($b),8112.2,9178.5,9519.7,9906.4,12002.2,11926.7,12691.5,13123.9,13696.5,13377.8 +Regular Tax ($b),1656.8,1712.2,1778.1,1838.2,2281.4,2282.6,2421.6,2488.0,2599.1,2792.6 +AMT Income ($b),10512.4,11427.2,11835.2,12265.2,14423.4,14452.5,15424.7,16049.3,16741.5,16934.0 +AMT Liability ($b),51.3,23.2,24.1,26.2,29.0,28.6,30.0,31.5,33.0,85.1 +AMT Filers (#m),5.7,0.6,0.6,0.6,0.7,0.6,0.6,0.6,0.6,7.4 +Tax before Credits ($b),1708.1,1735.4,1802.2,1864.4,2310.4,2311.2,2451.6,2519.4,2632.1,2877.6 +Refundable Credits ($b),102.9,117.5,118.5,642.0,802.6,119.2,127.1,133.0,135.2,121.9 +Nonrefundable Credits ($b),67.0,127.3,129.2,128.5,47.6,140.8,143.3,144.0,145.9,78.0 Reform Surtaxes ($b),0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0 Other Taxes ($b),40.0,44.8,43.6,52.9,84.9,61.5,66.5,65.2,66.0,64.2 -Ind Income Tax ($b),1578.2,1535.4,1598.1,1169.2,1545.0,2112.7,2247.8,2307.6,2417.0,2742.0 +Ind Income Tax ($b),1578.2,1535.4,1598.1,1146.8,1545.0,2112.7,2247.8,2307.6,2417.0,2742.0 Payroll Taxes ($b),1083.8,1133.3,1185.4,1209.0,1306.0,1403.4,1489.3,1563.9,1637.9,1711.0 -Combined Liability ($b),2662.0,2668.7,2783.5,2378.2,2851.0,3516.1,3737.1,3871.6,4054.9,4452.9 -With Income Tax <= 0 (#m),92.8,98.6,99.7,131.5,125.0,100.3,101.9,103.4,104.4,101.0 -With Combined Tax <= 0 (#m),63.4,65.6,66.8,102.0,94.5,68.9,70.2,71.6,72.6,72.4 +Combined Liability ($b),2662.0,2668.7,2783.5,2355.8,2851.0,3516.1,3737.1,3871.6,4054.9,4452.9 +With Income Tax <= 0 (#m),92.8,98.6,99.7,131.7,125.0,100.3,101.9,103.4,104.4,101.0 +With Combined Tax <= 0 (#m),63.4,65.6,66.8,102.1,94.5,68.9,70.2,71.6,72.6,72.4 UBI Benefits ($b),0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0 "Total Benefits, Consumption Value ($b)",1052.3,1104.9,1175.3,1243.9,1476.4,1411.5,1569.5,1707.8,1818.1,1924.4 Total Benefits Cost ($b),1052.3,1104.9,1175.3,1243.9,1476.4,1411.5,1569.5,1707.8,1818.1,1924.4