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PSLmodels / taxdata

The TaxData project prepares microdata for use with the Tax-Calculator microsimulation project.
http://pslmodels.github.io/taxdata/
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Imputations for mortgage interest deduction reforms #33

Open MattHJensen opened 8 years ago

MattHJensen commented 8 years ago

We should impute the necessary information onto the CPS-PUF file in order to simulate these reforms with Tax-Calculator:

  1. Eliminate the MID
  2. Reduce the limit on acquisition debt
  3. Restrict to X percent the value of the MID
  4. Limit the MID to primary residences
  5. Replace the MID with an X percent tax credit on the first $25,000 of mortgage interest from primary residences only

This NTJ paper by Adam J. Cole, Geoffrey Gee, and Nicholas Turner describes the methodology and results of modeling exactly these proposals with the Treasury model.

This Urban Institute paper may also be helpful.

After the data work is under way, a new issue should be opened in the Tax-Calculator repository describing exactly which changes need to be made to Tax-Calculator in order to accomodate these reforms.

Amy-Xu commented 7 years ago

Is anyone handling this issue now?

MattHJensen commented 7 years ago

@Amy-Xu, @codykallen asked a question about this issue over in #105, and now there is a relevant discussion.

martinholmer commented 6 years ago

@MattHJensen, is there any value in keeping taxdata issue #33 open? The last comment in #33 was a year ago.

MattHJensen commented 6 years ago

I believe these enhancements would still be valuable, although please let me know if I am missing something that has happened since Aug 2016 that undermines their value. Given my current belief in their ongoing value, I advocate for leaving the issue open. I added a help wanted label.

martinholmer commented 6 years ago

@MattHJensen said about taxdata issue #33 in June 2018:

I believe these [mortgage interest deduction] enhancements would still be valuable, although please let me know if I am missing something that has happened since Aug 2016 that undermines their value. Given my current belief in their ongoing value, I advocate for leaving the issue open. I added a help wanted label.

And @MattHJensen said when he opened issue #33 in August 2016:

We should impute the necessary information onto the CPS-PUF file in order to simulate these reforms with Tax-Calculator:

  • Eliminate the MID
  • Reduce the limit on acquisition debt
  • Restrict to X percent the value of the MID
  • Limit the MID to primary residences
  • Replace the MID with an X percent tax credit on the first $25,000 of mortgage interest from primary residences only

...

After the data work is under way, a new issue should be opened in the Tax-Calculator repository describing exactly which changes need to be made to Tax-Calculator in order to accommodate these reforms.

@MattHJensen, exactly what "data work" needs to be done? Are you referring to the data work in taxdata issue #32? If so, what's the status of that work? If not, who is going to do the "data work" being referred to here in issue #33?

MattHJensen commented 6 years ago

exactly what "data work" needs to be done?

Please see referenced papers. They provide a good outline of at least one possible approach to being able to simulate these reforms.

Are you referring to the data work in taxdata issue #32?

No. This is a separate issue.

If not, who is going to do the "data work" being referred to here in issue #33?

I don't know, hence the help wanted label.

codykallen commented 6 years ago

@MattHJensen, do you think it would be worthwhile to get help from AEI's housing center? They have a lot of microdata on mortgages. Even if they can't share the actual data, they may be able to provide sufficient information to allow us to do some imputations.