Renacci.json

// Title: Simplifying America's Tax System (Renacci)
// Reform_File_Author: Hank Doupe
// Reform_Reference: http://renacci.house.gov/_cache/files/7eeb81fe-f245-42c0-8de4-055ebf4c12e9/sats-white-paper.pdf
// Reform_Baseline: 2017_law.json
// Reform_Description:
//   - Number of brackets reduced to 3 (1)
//   - Standard deduction increased (2)
//   - Personal exemption increased (3)
//   - Eliminate all deductions except charitable and mortgage interest (4)
//   - Cap mortgage interest deduction (4)
//       This limit was calculated by multiplying $500,000 by
//       the current APR (%3.946 as of 5/24/2017)
//   - Repeal Alternative Minimum Tax (5)
//   - Capital gains and dividends are treated the same as ordinary income (6)
//   - Increase in EITC (7)
// Reform_Parameter_Map:
//   1: II_rt*, II_brk*
//   2: STD
//   3: II_em
//   4: ID*
//   5: AMT_rt*
//   6: CG_nodiff
//   7: EITC_c
{
    "II_rt1": {"2017": 0.1},
    "II_brk1": {"2017": [50000,100000,50000,50000,50000]},
    "II_rt2": {"2017": 0.25},
    "II_brk2": {"2017": [750000,1500000,750000,750000,750000]},
    "II_rt3": {"2017": 0.35},
    "II_brk3": {"2017": [9e99,9e99,9e99,9e99,9e99]},
    "II_rt4": {"2017": 0.35},
    "II_brk4": {"2017": [9e99,9e99,9e99,9e99,9e99]},
    "II_rt5": {"2017": 0.35},
    "II_brk5": {"2017": [9e99,9e99,9e99,9e99,9e99]},
    "II_rt6": {"2017": 0.35},
    "II_brk6": {"2017": [9e99,9e99,9e99,9e99,9e99]},
    "II_rt7": {"2017": 0.35},
    "II_brk7": {"2017": [9e99,9e99,9e99,9e99,9e99]},
    "STD": {"2017": [15000,30000,15000,15000,15000]},
    "II_em": {"2017": 5000},
    "ID_StateLocalTax_hc": {"2017": 1},
    "ID_Medical_hc": {"2017": 1},
    "ID_Casualty_hc": {"2017": 1},
    "ID_Miscellaneous_hc": {"2017": 1},
    "ID_RealEstate_hc": {"2017": 1},
    "ID_InterestPaid_c": {
        "2017": [19730.0, 19730.0, 19730.0, 19730.0, 19730.0]
    },
    "AMT_rt1": {"2017": 0},
    "AMT_rt2": {"2017": 0},
    "CG_nodiff": {"2017": true},
    "EITC_c": {"2017": [1020, 4760, 7862, 8845]}
}
// Note: Due to lack of detail, data, or modeling capability,
// many provisions cannot be scored.
// These omitted provisions include:
//   - Repeal of the corporate income tax
//   - 7% tax on business activities (credit-invoice value-added tax)
//   - One time tax on accumulated foreign earnings abroad
//   - The following was included in the feedback section:
//       - 9. Considers a border-adjustable-goods-and-services tax