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Update to January 2019 CBO economic projections #2255

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merged 2 commits into from Mar 16, 2019

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commented Mar 12, 2019

This pull request incorporates new input data files produced by taxdata pull request 307. Because the new CBO projection has different inflation rates than before, many of the inflation-indexed policy parameters have changed. And, of course, there are changes in the extrapolated attributes of the filing units in the (unchanged) puf.csv and cps.csv.gz files.

The changes in aggregate income and payroll tax revenue implied by these input data modifications vary by year. So, for example, in 2017 the puf.csv income and payroll tax revenues are up by 2.08% and 1.33% respectively, while in 2019 they are up by only 0.57% and 0.01%, respectively. But in 2025, the puf.csv income and payroll tax revenues are down by 0.63% and 0.30% , respectively.

Use of the new CBO projection permits the last simulation year to be increased from 2028 to 2029.

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commented Mar 12, 2019

Codecov Report

Merging #2255 into master will not change coverage.
The diff coverage is 100%.

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@@          Coverage Diff           @@
##           master   #2255   +/-   ##
======================================
  Coverage     100%    100%           
======================================
  Files          12      12           
  Lines        2983    2983           
======================================
  Hits         2983    2983
Impacted Files Coverage Δ
taxcalc/growdiff.py 100% <100%> (ø) ⬆️
taxcalc/policy.py 100% <100%> (ø) ⬆️

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@martinholmer martinholmer added the ready label Mar 12, 2019

@codykallen codykallen referenced this pull request Mar 14, 2019

Closed

Extending beyond 2029 #2257

@martinholmer martinholmer removed the ready label Mar 16, 2019

@martinholmer martinholmer merged commit 6144370 into PSLmodels:master Mar 16, 2019

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codecov/patch 100% of diff hit (target 100%)
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codecov/project 100% (+0%) compared to 13c9f22
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@martinholmer martinholmer deleted the martinholmer:new-projection branch Mar 16, 2019

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