Comments (3)
Hi @gmfenton, I'm not sure why Tax-Calculator gives a $0 impact, but just as another benchmark, PolicyEngine estimates that raising the ACTC from $1,600 to $2,000 in 2023 would cost about $800 million in 2023. TPC's 2023 estimate of $2.8 billion may exceed this in part if they assumed a $1,500 baseline ACTC for 2023, and also because PolicyEngine currently uses the CPS rather than the PUF.
Have you examined a sample household with Tax-Calculator? Sometimes that can help diagnose issues; e.g., here's how PolicyEngine shows it affecting a single parent of one:
from tax-calculator.
@gmfenton I think the issues here is just how you are writing your reform. If you want to change the ACTC_c
parameter for two different ranges of years, you need to do that in the same dictionary. e.g., see the specification of the json string in the code below:
import taxcalc as tc
recs = tc.Records()
pol = tc.Policy()
calc1 = tc.Calculator(policy=pol, records=recs)
# Create an instance of the calculator class for reform policy
json_str = '{"ACTC_c": {"2023": 2000, "2026": 1000}}'
reform = tc.Policy.read_json_reform(json_str)
pol.implement_reform(reform)
calc2 = tc.Calculator(policy=pol, records=recs)
# Calculate difference in tax revenue for year Y
for Y in range(2023, 2032):
CY = Y
calc1.advance_to_year(CY)
calc2.advance_to_year(CY)
calc1.calc_all()
calc2.calc_all()
iitax_rev1 = calc1.weighted_total('iitax')
iitax_rev2 = calc2.weighted_total('iitax')
diff = iitax_rev2-iitax_rev1
print(f'{CY}_reform_tax_rev= ${diff:,.0f}')
Which uses the CPS file and gives results similar to what you cite from TPC (around $2 billion per year):
2023_reform_tax_rev= $-1,804,884,226
2024_reform_tax_rev= $-1,937,256,092
2025_reform_tax_rev= $-2,020,715,288
2026_reform_tax_rev= $0
2027_reform_tax_rev= $0
2028_reform_tax_rev= $0
2029_reform_tax_rev= $0
2030_reform_tax_rev= $0
2031_reform_tax_rev= $0
from tax-calculator.
Thank you @MaxGhenis and @jdebacker for your quick responses!
Yes Jason, including the separate year ranges in the same dictionary fixed it, much appreciated.
from tax-calculator.
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