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Update reforms/ext.json using extend_tcja.py script #2817

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Sep 28, 2024
Merged

Update reforms/ext.json using extend_tcja.py script #2817

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c0117b7
Add comment on use of extend_tcja.py script
martinholmer Sep 28, 2024
4f99b63
Update reforms/ext.json using output from extend_tcja.py script
martinholmer Sep 28, 2024
38685ca
Update expected results generated by the ext.json reform
martinholmer Sep 28, 2024
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7 changes: 6 additions & 1 deletion extend_tcja.py
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Original file line number Diff line number Diff line change
Expand Up @@ -5,6 +5,12 @@

USAGE: (taxcalc-dev) ~% python extend_tcja.py

WHEN TO USE: use this script to update reforms/ext.json in these situations:
(a) whenever inflation rates in the growfactors.csv files are changed
OR
(b) whenever inflation-indexed parameters are updated (usually as part
of changes that increase the value of Policy.LAST_KNOWN_YEAR).

IMPORTANT NOTE: be sure to remove the trailing comma after the last item
in the reform JSON object generated by this script.
"""
Expand Down Expand Up @@ -76,7 +82,6 @@
"PT_qbid_alt_property_rt": {"indexed": False, "category": 7},
# category 8 ...
"ALD_BusinessLosses_c": {"indexed": True, "category": 8},
"ALD_DomesticProduction_hc": {"indexed": False, "category": 8},
}


Expand Down
38 changes: 19 additions & 19 deletions taxcalc/reforms/ext.json
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Original file line number Diff line number Diff line change
@@ -1,31 +1,31 @@
// REFORM TO EXTEND TEMPORARY TCJA PROVISIONS BEYOND 2025
// USING TAX-CALCULATOR 3.5.3
// USING TAX-CALCULATOR 4.2.2b
// WITH 2025-to-2026 INDEXING FACTOR = 1.022000
{
"II_rt1": {"2026": 0.10},
"II_brk1": {"2026": [12170.98, 24341.94, 12170.98, 17353.27, 24341.94]},
"II_brk1": {"2026": [12157.51, 24315.02, 12157.51, 17345.41, 24315.02]},
"PT_rt1": {"2026": 0.10},
"PT_brk1": {"2026": [12170.98, 24341.94, 12170.98, 17353.27, 24341.94]},
"PT_brk1": {"2026": [12157.51, 24315.02, 12157.51, 17345.41, 24315.02]},
"II_rt2": {"2026": 0.12},
"II_brk2": {"2026": [49483.44, 98966.89, 49483.44, 66214.83, 98966.89]},
"II_brk2": {"2026": [49416.07, 98832.15, 49416.07, 66132.65, 98832.15]},
"PT_rt2": {"2026": 0.12},
"PT_brk2": {"2026": [49483.44, 98966.89, 49483.44, 66214.83, 98966.89]},
"PT_brk2": {"2026": [49416.07, 98832.15, 49416.07, 66132.65, 98832.15]},
"II_rt3": {"2026": 0.22},
"II_brk3": {"2026": [105511.38, 211022.75, 105511.38, 105481.77, 211022.75]},
"II_brk3": {"2026": [105356.33, 210712.67, 105356.33, 105330.13, 210712.67]},
"PT_rt3": {"2026": 0.22},
"PT_brk3": {"2026": [105511.38, 211022.75, 105511.38, 105481.77, 211022.75]},
"PT_brk3": {"2026": [105356.33, 210712.67, 105356.33, 105330.13, 210712.67]},
"II_rt4": {"2026": 0.24},
"II_brk4": {"2026": [201428.14, 402856.25, 201428.14, 201428.14, 402856.25]},
"II_brk4": {"2026": [201175.3, 402350.62, 201175.3, 201175.3, 402350.62]},
"PT_rt4": {"2026": 0.24},
"PT_brk4": {"2026": [201428.14, 402856.25, 201428.14, 201428.14, 402856.25]},
"PT_brk4": {"2026": [201175.3, 402350.62, 201175.3, 201175.3, 402350.62]},
"II_rt5": {"2026": 0.32},
"II_brk5": {"2026": [255797.72, 511595.46, 255797.72, 255797.72, 511595.46]},
"II_brk5": {"2026": [255438.67, 510877.34, 255438.67, 255412.47, 510877.34]},
"PT_rt5": {"2026": 0.32},
"PT_brk5": {"2026": [255797.72, 511595.46, 255797.72, 255797.72, 511595.46]},
"PT_brk5": {"2026": [255438.67, 510877.34, 255438.67, 255412.47, 510877.34]},
"II_rt6": {"2026": 0.35},
"II_brk6": {"2026": [639523.94, 767393.2, 383696.6, 639523.94, 767393.2]},
"II_brk6": {"2026": [638635.98, 766342.2, 383171.1, 638635.98, 766342.2]},
"PT_rt6": {"2026": 0.35},
"PT_brk6": {"2026": [639523.94, 767393.2, 383696.6, 639523.94, 767393.2]},
"PT_brk6": {"2026": [638635.98, 766342.2, 383171.1, 638635.98, 766342.2]},
"II_rt7": {"2026": 0.37},
"II_brk7": {"2026": [9e+99, 9e+99, 9e+99, 9e+99, 9e+99]},
"PT_rt7": {"2026": 0.37},
Expand All @@ -35,10 +35,10 @@
"ODC_c": {"2026": 500.00},
"CTC_ps": {"2026": [200000.0, 400000.0, 200000.0, 200000.0, 400000.0]},
"ACTC_Income_thd": {"2026": 2500.00},
"AMT_em": {"2026": [89905.29, 139892.17, 69946.08, 89905.29, 139892.17]},
"AMT_em_ps": {"2026": [639523.94, 1279047.88, 639523.94, 639523.94, 1279047.88]},
"AMT_em_pe": {"2026": 939533.04},
"STD": {"2026": [15339.57, 30679.14, 15339.57, 22979.74, 30679.14]},
"AMT_em": {"2026": [89818.83, 139706.53, 69853.27, 89818.83, 139706.53]},
"AMT_em_ps": {"2026": [638635.98, 1277271.94, 638635.98, 638635.98, 1277271.94]},
"AMT_em_pe": {"2026": 938246.12},
"STD": {"2026": [15301.69, 30603.38, 15301.69, 22952.54, 30603.38]},
"ID_AllTaxes_c": {"2026": [10000.0, 10000.0, 5000.0, 10000.0, 10000.0]},
"ID_Charity_crt_cash": {"2026": 0.60},
"ID_Casualty_hc": {"2026": 1.00},
Expand All @@ -49,10 +49,10 @@
"II_em": {"2026": 0.00},
"II_em_ps": {"2026": [9e+99, 9e+99, 9e+99, 9e+99, 9e+99]},
"PT_qbid_rt": {"2026": 0.20},
"PT_qbid_taxinc_thd": {"2026": [201428.14, 402856.25, 201428.14, 201428.14, 402856.25]},
"PT_qbid_taxinc_thd": {"2026": [201175.3, 402350.62, 201175.3, 201175.3, 201175.3]},
"PT_qbid_taxinc_gap": {"2026": [50000.0, 100000.0, 50000.0, 50000.0, 100000.0]},
"PT_qbid_w2_wages_rt": {"2026": 0.50},
"PT_qbid_alt_w2_wages_rt": {"2026": 0.25},
"PT_qbid_alt_property_rt": {"2026": 0.03},
"ALD_BusinessLosses_c": {"2026": [319821.19, 639642.39, 319821.19, 319821.19, 639642.39]}
"ALD_BusinessLosses_c": {"2026": [319658.6, 639317.21, 319658.6, 319658.6, 639317.21]}
}
2 changes: 1 addition & 1 deletion taxcalc/tests/test_reforms.py
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Original file line number Diff line number Diff line change
Expand Up @@ -383,4 +383,4 @@ def test_ext_reform(tests_path):
iitax_ext = calc_ext.array('iitax')
rdiff = iitax_ext - iitax_end
weighted_sum_rdiff = (rdiff * calc_end.array('s006')).sum() * 1.0e-9
assert np.allclose([weighted_sum_rdiff], [-232.43], rtol=0.0, atol=0.01)
assert np.allclose([weighted_sum_rdiff], [-230.805], rtol=0.0, atol=0.01)
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