MACROECONOMIC MODELING OF TAX POLICY
Autor: | Alan J. Auerbach, Pamela Moomau, Thomas A. Barthold, Brandon Pecoraro, W. Gavin Elkins, Kyle Pomerleau, Benjamin Page, Nicholas Bull, Itai Grinberg, Rachel Moore |
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Rok vydání: | 2017 |
Předmět: |
Tax policy
Macroeconomics Double taxation Economics and Econometrics 05 social sciences Subject (philosophy) Tax basis House of Representatives Tax reform Discount points Value-added tax Ad valorem tax Tax credit Accounting 0502 economics and business State income tax Economics 050207 economics Finance |
Zdroj: | National Tax Journal. 70:819-836 |
ISSN: | 1944-7477 0028-0283 |
DOI: | 10.17310/ntj.2017.4.06 |
Popis: | The macroeconomic effects of tax reform are a subject of significant discussion and controversy. In 2015, the House of Representatives adopted a new "dynamic scoring" rule requiring a point estimate within the budget window of the deficit effect due to the macroeconomic response to certain proposed tax legislation. The revenue estimates provided by the staff of the Joint Committee on Taxation (JCT) for major tax bills often play a critical role in Congressional deliberations and public discussion of those bills. The JCT has long had macroeconomic analytic capability, and in recent years, responding to Congress´ interest in macrodynamic estimates for purposes of scoring legislation, outside think tank groups — notably the Tax Policy Center and the Tax Foundation — have also developed macrodynamic estimation models. The May 2017 National Tax Association (NTA) Spring Symposium brought together the JCT with the Tax Foundation and the Tax Policy Center for a panel discussion regarding their respective macrodynamic estimating approaches. This paper reports on that discussion. Below each organization provides a general description of their macrodynamic modeling methodology and answers five questions posed by the convening authors. |
Databáze: | OpenAIRE |
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