Publications on Macroeconomic Analysis

Listed below are publications by the Joint Committee staff providing analyses of the macroeconomic effects of tax proposals, or providing discussion of our macroeconomic modeling efforts.


Macroeconomic analysis of tax proposals takes account of the possibility that these proposals will affect the overall economy, for instance affecting overall Gross National Product. While conventional revenue estimates of proposed tax changes prepared by the Joint Committee staff assume that individuals and firms respond by modifying their microeconomic behavior, these estimates assume that overall macroeconomic aggregates such as Gross National Product are unchanged. But certain tax proposals might be expected to have macroeconomic effects, such as proposals that would affect incentives for aggregate labor supply or capital formation.


Included in the list below are many of the analyses provided in compliance with clause 3(h)(2) of rule XIII of the Rules of the House of Representatives, which requires the staff of the Joint Committee on Taxation to provide a macroeconomic analysis for any bill or joint resolution reported by the Committee on Ways and Means.  In some cases a bill’s proposed policy changes would have effects on economic activity so small as to be incalculable within the context of a model of the aggregate economy.  In most such instances the analysis for the reported bill is not included in the list below.

JCX-107-15 (August 04, 2015)
A Report To The Congressional Budget Office Of The Macroeconomic Effects Of The “Tax Relief Extension Act Of 2015,” As Ordered To Be Reported By The Senate Committee On Finance
JCX-3-15 (January 26, 2015)
Macroeconomic Analysis At The Joint Committee On Taxation And The Mechanics Of Its Implementation.
JCX-22-14 (February 26, 2014)
MACROECONOMIC ANALYSIS OF THE “TAX REFORM ACT OF 2014”
JCX-48-11 (September 21, 2011)
Testimony Of The Staff Of The Joint Committee On Taxation Before The House Committee On Ways And Means Regarding Economic Modeling
JCX-46-11 (September 19, 2011)
Summary Of Economic Models And Estimating Practices Of The Staff Of The Joint Committee On Taxation
JCX-52-06 (December 14, 2006)
Background Information About The Dynamic Stochastic General Equilibrium Model Used By The Staff Of The Joint Committee On Taxation ...
JCX-53-06 (December 14, 2006)
Macroeconomic Analysis Of A Proposal To Broaden The Individual Income Tax Base And Lower Individual Income Tax Rates
JCX-19-06 (June 16, 2006)
Exploring Issues In The Development Of Macroeconomic Models For Use In Tax Policy Analysis
JCX-4-05 (March 01, 2005)
Macroeconomic Anaylsis Of Various Proposals To Provide $500 Billion In Tax Relief
JCX-105-03 (December 22, 2003)
Overview Of Work Of The Staff Of The Joint Committee On Taxation To Model The Macroeconomic Effects Of Proposed Tax Legislation To Comply With House Rule XIII.3.(h)(2)
Macroeconomic Analysis for the Jobs and Growth Reconciliation Tax Act of 2003 (May 08, 2003)
Macroeconomic Analysis of H.R. 2, the 'Jobs and Growth Reconciliation Tax Act of 2003,' Prepared by the Staff of the Joint Committee on Taxation
JCS-21-97 (November 20, 1997)
Joint Committee On Taxation Tax Modeling Project And 1997 Tax Symposium Papers

 

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