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OFRA Simulation S2024–001 - FIGURE

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Figure: Eliminate Marriage Penalty of SALT Deduction Caps Baseline: Current Policy Reform: Eliminating SALT Marriage Penalty by Doubling the Cap for Joint Filers, Starting 20262 Calibration: Joint Committee on Taxation-Style Conventional Models3 Budget Window: 2026–2035

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OFRA Simulation S2024–001 - TABLE

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Source: Tax-Brain (v.2.7.1), Tax-Calculator (v.4.3.0), Behavioral-Response (v.0.11.0), and Tax-Microdata-Benchmarking (as of September 30, 2024). See github.com/PSLmodels for open-source code. The baseline assumes that Tax Cuts and Jobs Act temporary provisions are extended beyond 2025. All the simulated proposals assume that the SALT deduction caps for the “married filing jointly” and…

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OFRA Simulation S2024–002 - FIGURE

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Figure: Substitute SALT Cap with Standard Deduction Baseline: Current Policy1 Reform: Lowering SALT Cap in Exchange for Raising Standard Deduction, Starting 20262 Calibration: Joint Committee on Taxation-Style Conventional Models3 Budget Window: 2026–2035

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OFRA Simulation S2024–002 - TABLE

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Source: Tax-Brain (v.2.7.1), Tax-Calculator (v.4.3.0), Behavioral-Response (v.0.11.0), and Tax-Microdata-Benchmarking (as of September 30, 2024). See github.com/PSLmodels for open-source code. The baseline assumes that Tax Cuts and Jobs Act temporary provisions are extended beyond 2025. All the simulated proposals assume that the standard deduction caps for “married filing jointly” and “qualifying…

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OFRA Simulation S2024–003 - FIGURE

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Figure: Substitute SALT Cap with Lower Income Tax Baseline: Current Policy Reform: Lowering SALT Cap in Exchange for Lowering Tax Rate on Lowest Income Bracket, Starting 20262 Calibration: Joint Committee on Taxation-Style Conventional Models3 Budget Window: 2026–2035

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OFRA Simulation S2024-003 - TABLE

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Source: Tax-Brain (v.2.7.1), Tax-Calculator (v.4.3.0), Behavioral-Response (v.0.11.0), and Tax-Microdata-Benchmarking (as of September 30, 2024). See github.com/PSLmodels for open-source code. The baseline assumes that Tax Cuts and Jobs Act temporary provisions are extended beyond 2025. All the simulated proposals assume that the standard deduction caps for “married filing jointly” and “qualifying…

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OFRA Simulation S2024–004 - FIGURE

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Figure: Substitute SALT (with No Marriage Penalty) with Standard Deduction Baseline: Current Policy1 Reform: Lowering SALT Cap in Exchange for Raising Standard Deduction, Starting 20262 Calibration: Joint Committee on Taxation-Style Conventional Models3 Budget Window: 2026–2035

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OFRA Simulation S2024-004 - TABLE

Found in

Source: Tax-Brain (v.2.7.1), Tax-Calculator (v.4.3.0), Behavioral-Response (v.0.11.0), and Tax-Microdata-Benchmarking (as of September 30, 2024). See github.com/PSLmodels for open-source code. The baseline assumes that Tax Cuts and Jobs Act temporary provisions are extended beyond 2025. All the simulated proposals assume that the standard deduction caps for “married filing jointly” and “qualifying…

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OFRA Simulation S2024–005 - FIGURE

Found in

Figure: Substitute SALT (with No Marriage Penalty) with Lower Income Tax Baseline: Current Policy Reform: Lowering SALT Cap in Exchange for Lowering Tax Rate on Lowest Income Bracket, Starting 20262 Calibration: Joint Committee on Taxation-Style Conventional Models3 Budget Window: 2026–2035

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OFRA Simulation S2024-005 - TABLE

Found in

Source: Tax-Brain (v.2.7.1), Tax-Calculator (v.4.3.0), Behavioral-Response (v.0.11.0), and Tax-Microdata-Benchmarking (as of September 30, 2024). See github.com/PSLmodels for open-source code. The baseline assumes that Tax Cuts and Jobs Act temporary provisions are extended beyond 2025.All the simulated proposals assume that the standard deduction caps for “married filing jointly” and “qualifying surviving…

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