diff --git a/RELEASES.md b/RELEASES.md index a347dedb2..defa60bd2 100644 --- a/RELEASES.md +++ b/RELEASES.md @@ -16,7 +16,9 @@ for a complete commit history. by Martin Holmer] **New Features** -- None +- Add capability to model pass-through tax rate eligiblity rules in TCJA + [[#1620](https://github.com/open-source-economics/Tax-Calculator/pull/1620) + by Cody Kallen] **Bug Fixes** - None diff --git a/taxcalc/reforms/TCJA_Nov3.json b/taxcalc/reforms/TCJA_Nov3.json new file mode 100644 index 000000000..cf09c58da --- /dev/null +++ b/taxcalc/reforms/TCJA_Nov3.json @@ -0,0 +1,133 @@ +// Title: Tax Cuts and Jobs Act, Chairman's mark (as of 11-3-17) +// Reform_File_Author: Cody Kallen +// Reform_Reference: https://waysandmeans.house.gov/wp-content/uploads/2017/11/20171106-Amendment-in-the-Nature-of-a-Substitute-to-H.R.-1.pdf +// Reform_Description: +// - New personal income tax schedule (regular/non-AMT/non-pass-through) (1) +// - New pass-through income tax schedule, with qualifying rules (2) +// - New standard deductions (3) +// - Repeal personal exemption (4) +// - New nonrefundable credits, phase-out with child tax credit (5) +// - Repeal Alternative Minimum Tax (6) +// - Minor changes to capital brackets for long-term gains and dividends (7) +// - Changes to above-the-line deductions (8) +// - Changes to itemized deductions (9) +// - Repeal of certain credits (10) +// Reform_Parameter_Map: +// - 1: _II_rt* +// - 2: _PT_rt* +// - 3: _STD, _STD_Dep, _STD_Aged +// - 4: _II_em +// - 5: _DependentCredit_*, _FilerCredit_c, _CTC_ps +// - 6: _AMT_rt* +// - 7: _CG_brk* +// - 8: _ALD_* +// - 9: _ID_* +// - 10: _CR_SchR_hc, _LLC_Ecpense_c +{ + "policy": { + "_II_rt1": + {"2018": [0.12]}, + "_II_rt2": + {"2018": [0.25]}, + "_II_rt3": + {"2018": [0.35]}, + "_II_rt4": + {"2018": [0.396]}, + "_II_rt5": + {"2018": [0.456]}, + "_II_rt6": + {"2018": [0.396]}, + "_II_rt7": + {"2018": [0.396]}, + "_II_brk1": + {"2018": [[45000, 90000, 45000, 67500, 90000]]}, + "_II_brk2": + {"2018": [[200000, 260000, 130000, 200000, 260000]]}, + "_II_brk3": + {"2018": [[500000, 1000000, 500000, 500000, 1000000]]}, + "_II_brk4": + {"2018": [[1000000, 1200000, 1000000, 1000000, 1200000]]}, + "_II_brk5": + {"2018": [[1207000, 1614000, 1207000, 1310500, 1614000]]}, + "_II_brk6": + {"2018": [[2000000, 2000000, 2000000, 2000000, 2000000]]}, + "_PT_rt1": + {"2018": [0.12]}, + "_PT_rt2": + {"2018": [0.25]}, + "_PT_rt3": + {"2018": [0.25]}, + "_PT_rt4": + {"2018": [0.25]}, + "_PT_rt5": + {"2018": [0.31]}, + "_PT_rt6": + {"2018": [0.25]}, + "_PT_rt7": + {"2018": [0.25]}, + "_PT_brk1": + {"2018": [[45000, 90000, 45000, 67500, 90000]]}, + "_PT_brk2": + {"2018": [[200000, 260000, 130000, 200000, 260000]]}, + "_PT_brk3": + {"2018": [[500000, 1000000, 500000, 500000, 1000000]]}, + "_PT_brk4": + {"2018": [[1000000, 1200000, 1000000, 1000000, 1200000]]}, + "_PT_brk5": + {"2018": [[1207000, 1614000, 1207000, 1310500, 1614000]]}, + "_PT_brk6": + {"2018": [[2000000, 2000000, 2000000, 2000000, 2000000]]}, + "_PT_EligibleRate_active": + {"2018": [0.3]}, + "_PT_EligibleRate_passive": + {"2018": [1.0]}, + "_PT_wages_active_income": + {"2018": [true]}, + "_PT_top_stacking": + {"2018": [false]}, + "_STD": + {"2018": [[12000, 24000, 12000, 18000, 24000]]}, + "_STD_Dep": + {"2018": [500]}, + "_STD_Aged": + {"2018": [[0, 0, 0, 0, 0]]}, + "_II_em": + {"2018": [0]}, + "_DependentCredit_Child_c": + {"2018": [600]}, + "_DependentCredit_Nonchild_c": + {"2018": [300], "2023": [0]}, + "_FilerCredit_c": + {"2018": [[300, 600, 300, 300, 300]], "2023": [[0, 0, 0, 0, 0]]}, + "_AMT_rt1": + {"2018": [0]}, + "_AMT_rt2": + {"2018": [0]}, + "_CG_brk1": + {"2018": [[38600, 77200, 38600, 51700, 77200]]}, + "_CG_brk2": + {"2018": [[425800, 479000, 239500, 452400, 479000]]}, + "_ALD_DomesticProduction_hc": + {"2018": [1]}, + "_ALD_StudentLoan_hc": + {"2018": [1]}, + "_ALD_Tuition_hc": + {"2018": [1]}, + "_ID_prt": + {"2018": [0]}, + "_ID_StateLocalTax_hc": + {"2018": [1]}, + "_ID_RealEstate_c": + {"2018": [[10000, 10000, 10000, 10000, 10000]]}, + "_ID_Casualty_hc": + {"2018": [1]}, + "_ID_Medical_hc": + {"2018": [1]}, + "_ID_Miscellaneous_hc": + {"2018": [1]}, + "_CR_SchR_hc": + {"2018": [1]}, + "_LLC_Expense_c": + {"2018": [0]} + } +} \ No newline at end of file