From 44b4336f25eb4201f7c0d714ed57a30de00a053e Mon Sep 17 00:00:00 2001 From: "martin.holmer@gmail.com" Date: Tue, 1 Oct 2024 12:32:55 -0400 Subject: [PATCH 1/3] Update version to 4.3.0 and add release details --- docs/about/releases.md | 23 +++++++++++++++++++++++ setup.py | 2 +- taxcalc/__init__.py | 2 +- 3 files changed, 25 insertions(+), 2 deletions(-) diff --git a/docs/about/releases.md b/docs/about/releases.md index c6ce2af8f..3489c2659 100644 --- a/docs/about/releases.md +++ b/docs/about/releases.md @@ -3,6 +3,29 @@ Release history Go [here](https://github.com/PSLmodels/Tax-Calculator/pulls?q=is%3Apr+is%3Aclosed) for a complete commit history. + +2024-10-02 Release 4.3.0 +------------------------ +(last merged pull request is +[#2819](https://github.com/PSLmodels/Tax-Calculator/pull/2819)) + +**This is an enhancement and bug-fix release.** + +**API Changes** + +**New Features** +- Add known values of inflation-indexed policy parameters for 2023 [[#2806](https://github.com/PSLmodels/Tax-Calculator/pull/2806) by Martin Holmer] +- Enhance `Records.tmd_constructor` static method [[#2809](https://github.com/PSLmodels/Tax-Calculator/pull/2809) by Martin Holmer] +- Remove TMD data files from Tax-Calculator repository [[#2810](https://github.com/PSLmodels/Tax-Calculator/pull/2810) by Martin Holmer] +- Add known values of inflation-indexed policy parameters for 2024 [[#2816](https://github.com/PSLmodels/Tax-Calculator/pull/2816) by Martin Holmer] +- Enhance `extend_tcja.py` and update `reforms/ext.json` [[#2817](https://github.com/PSLmodels/Tax-Calculator/pull/2817) by Martin Holmer] +- Enhance `ppp.py` script [[#2819](https://github.com/PSLmodels/Tax-Calculator/pull/2819) by Martin Holmer] + +**Bug Fixes** +- Fix specification of domestic production deduction under TCJA [[#2807](https://github.com/PSLmodels/Tax-Calculator/pull/2807) by Martin Holmer] +- Fix `ALD_BusinessLosses_c` parameter values after 2025 [[#2818](https://github.com/PSLmodels/Tax-Calculator/pull/2818) by Martin Holmer] + + 2024-09-14 Release 4.2.2 ------------------------ (last merged pull request is diff --git a/setup.py b/setup.py index 168700c24..1e437afc2 100644 --- a/setup.py +++ b/setup.py @@ -3,7 +3,7 @@ with open("README.md") as f: longdesc = f.read() -version = "4.2.2" +version = "4.3.0" config = { "description": "Tax Calculator", diff --git a/taxcalc/__init__.py b/taxcalc/__init__.py index 40b275bdd..044f29d19 100644 --- a/taxcalc/__init__.py +++ b/taxcalc/__init__.py @@ -14,4 +14,4 @@ from taxcalc.utils import * from taxcalc.cli import * -__version__ = '4.2.2b' +__version__ = '4.3.0' From df98ae578b115ff0d917a6d07064d5c0b6a16d1f Mon Sep 17 00:00:00 2001 From: "martin.holmer@gmail.com" Date: Tue, 1 Oct 2024 13:07:50 -0400 Subject: [PATCH 2/3] Finish updating Tax-Calculator to 4.3.0 version --- docs/contributing/RELEASING.md | 2 +- docs/index.md | 2 +- taxcalc/reforms/ext.json | 2 +- update_pcl.py | 28 ++++++++++++++++++++++++++-- 4 files changed, 29 insertions(+), 5 deletions(-) diff --git a/docs/contributing/RELEASING.md b/docs/contributing/RELEASING.md index 8abd430e3..8f6c3cf9d 100755 --- a/docs/contributing/RELEASING.md +++ b/docs/contributing/RELEASING.md @@ -19,7 +19,7 @@ Create new `taxcalc` packages --> run `python ppp.py` [to update policy_current_law.json if needed] ---> run `python extend_tcja.py > ext.json` [to update reforms/ext.json if needed] +--> run `python extend_tcja.py > ext.json` [to update reforms/ext.json] --> run `make tctest-jit` [to make sure JIT decorators are not hiding bugs] diff --git a/docs/index.md b/docs/index.md index 4f97f63b4..f9915742b 100644 --- a/docs/index.md +++ b/docs/index.md @@ -57,7 +57,7 @@ The cross-model validation work with NBER's TAXSIM-27 model is described ## Latest release -{doc}`4.2.2 (2024-09-14) ` +{doc}`4.3.0 (2024-10-02) ` If you are already using Tax-Calculator, upgrade using the following command: diff --git a/taxcalc/reforms/ext.json b/taxcalc/reforms/ext.json index baf2c81c7..7b67bbe76 100644 --- a/taxcalc/reforms/ext.json +++ b/taxcalc/reforms/ext.json @@ -1,5 +1,5 @@ // REFORM TO EXTEND TEMPORARY TCJA PROVISIONS BEYOND 2025 -// USING TAX-CALCULATOR 4.2.2b +// USING TAX-CALCULATOR 4.3.0 // WITH 2025-to-2026 INDEXING FACTOR = 1.022000 // AND 2028-to-2029 INDEXING FACTOR = 1.019400 { diff --git a/update_pcl.py b/update_pcl.py index 70f5078a1..fd84d8637 100644 --- a/update_pcl.py +++ b/update_pcl.py @@ -326,6 +326,32 @@ {'year': 2024, 'MARS': 'headhh', 'value': 305000.0}, {'year': 2024, 'MARS': 'widow', 'value': 610000.0}, ], + 'FST_AGI_thd_lo': [ # not inflation-indexed, but needs to be here + {'year': 2023, 'MARS': 'single', 'value': 1000000.0}, + {'year': 2023, 'MARS': 'mjoint', 'value': 1000000.0}, + {'year': 2023, 'MARS': 'mseparate', 'value': 500000.0}, + {'year': 2023, 'MARS': 'headhh', 'value': 1000000.0}, + {'year': 2023, 'MARS': 'widow', 'value': 1000000.0}, + + {'year': 2024, 'MARS': 'single', 'value': 1000000.0}, + {'year': 2024, 'MARS': 'mjoint', 'value': 1000000.0}, + {'year': 2024, 'MARS': 'mseparate', 'value': 500000.0}, + {'year': 2024, 'MARS': 'headhh', 'value': 1000000.0}, + {'year': 2024, 'MARS': 'widow', 'value': 1000000.0}, + ], + 'FST_AGI_thd_hi': [ # not inflation-indexed, but needs to be here + {'year': 2023, 'MARS': 'single', 'value': 2000000.0}, + {'year': 2023, 'MARS': 'mjoint', 'value': 2000000.0}, + {'year': 2023, 'MARS': 'mseparate', 'value': 1000000.0}, + {'year': 2023, 'MARS': 'headhh', 'value': 2000000.0}, + {'year': 2023, 'MARS': 'widow', 'value': 2000000.0}, + + {'year': 2024, 'MARS': 'single', 'value': 2000000.0}, + {'year': 2024, 'MARS': 'mjoint', 'value': 2000000.0}, + {'year': 2024, 'MARS': 'mseparate', 'value': 1000000.0}, + {'year': 2024, 'MARS': 'headhh', 'value': 2000000.0}, + {'year': 2024, 'MARS': 'widow', 'value': 2000000.0}, + ], # ITEMS NOT PART OF CURRENT-LAW POLICY IN 2022-2025 PERIOD: 'ALD_Dependents_Child_c': LIST_SCALAR_ZERO, 'ALD_Dependents_Elder_c': LIST_SCALAR_ZERO, @@ -349,8 +375,6 @@ 'PT_qbid_ps': LIST_MARS_INF, 'RPTC_c': LIST_SCALAR_ZERO, 'CTC_new_ps': LIST_MARS_ZERO, - 'FST_AGI_thd_lo': LIST_MARS_INF, - 'FST_AGI_thd_hi': LIST_MARS_INF, 'AGI_surtax_thd': LIST_MARS_INF, 'UBI_u18': LIST_SCALAR_ZERO, 'UBI_1820': LIST_SCALAR_ZERO, From cab20d88b40d86830f5cc1903096223cab241cb9 Mon Sep 17 00:00:00 2001 From: "martin.holmer@gmail.com" Date: Tue, 1 Oct 2024 16:21:01 -0400 Subject: [PATCH 3/3] Fix comments in update_pcl.py script --- taxcalc.egg-info/PKG-INFO | 2 +- update_pcl.py | 8 ++++++-- 2 files changed, 7 insertions(+), 3 deletions(-) diff --git a/taxcalc.egg-info/PKG-INFO b/taxcalc.egg-info/PKG-INFO index 2ed490aa9..b93fe2de9 100644 --- a/taxcalc.egg-info/PKG-INFO +++ b/taxcalc.egg-info/PKG-INFO @@ -1,6 +1,6 @@ Metadata-Version: 2.1 Name: taxcalc -Version: 4.2.2 +Version: 4.3.0 Summary: taxcalc Home-page: https://github.com/PSLmodels/Tax-Calculator Download-URL: https://github.com/PSLmodels/Tax-Calculator diff --git a/update_pcl.py b/update_pcl.py index fd84d8637..da533fdc9 100644 --- a/update_pcl.py +++ b/update_pcl.py @@ -326,7 +326,7 @@ {'year': 2024, 'MARS': 'headhh', 'value': 305000.0}, {'year': 2024, 'MARS': 'widow', 'value': 610000.0}, ], - 'FST_AGI_thd_lo': [ # not inflation-indexed, but needs to be here + 'FST_AGI_thd_lo': [ # not part of current-law policy, but needs to be here {'year': 2023, 'MARS': 'single', 'value': 1000000.0}, {'year': 2023, 'MARS': 'mjoint', 'value': 1000000.0}, {'year': 2023, 'MARS': 'mseparate', 'value': 500000.0}, @@ -338,8 +338,10 @@ {'year': 2024, 'MARS': 'mseparate', 'value': 500000.0}, {'year': 2024, 'MARS': 'headhh', 'value': 1000000.0}, {'year': 2024, 'MARS': 'widow', 'value': 1000000.0}, + + # each year's values are the same as for the prior year ], - 'FST_AGI_thd_hi': [ # not inflation-indexed, but needs to be here + 'FST_AGI_thd_hi': [ # not part of current-law policy, but needs to be here {'year': 2023, 'MARS': 'single', 'value': 2000000.0}, {'year': 2023, 'MARS': 'mjoint', 'value': 2000000.0}, {'year': 2023, 'MARS': 'mseparate', 'value': 1000000.0}, @@ -351,6 +353,8 @@ {'year': 2024, 'MARS': 'mseparate', 'value': 1000000.0}, {'year': 2024, 'MARS': 'headhh', 'value': 2000000.0}, {'year': 2024, 'MARS': 'widow', 'value': 2000000.0}, + + # each year's values are the same as for the prior year ], # ITEMS NOT PART OF CURRENT-LAW POLICY IN 2022-2025 PERIOD: 'ALD_Dependents_Child_c': LIST_SCALAR_ZERO,