An analysis and note on the value of open-source models. — On Monday, Scott Winship, senior fellow and the director of the Center on Opportunity and Social Mobility at the American Enterprise Institute, published “Reforming the EITC to Reduce Single Parenthood and Ease Work-Family Balance” for the Institute for Family Studies. The blog proposed a set of reforms to the Earned…

A new feature from PolicyEngine reveals how customizable tax and benefit reforms affect poverty rates for Black, White, Hispanic, and other Americans. — As we observe Juneteenth, a day that marks the end of slavery in the United States, PolicyEngine sheds new light on the complex issue of poverty with new capacity to compute impact by race and ethnicity. Current poverty rates: a racial and ethnic breakdown

The proposal from the New School and the Economic Security Project would lower poverty and inequality while expanding cliffs. — In May 2021, researchers at the New School’s Institute on Race and Political Economy, with support from the Economic Security Project, released a paper titled, “Guaranteed Income for the 21st Century.” The paper proposed a policy that expands the Earned Income Tax Credit by guaranteeing $12,500 per adult and $4,500…

Our free tax calculator helped determine Balaji Srinivasan’s $500,000 payments to Medlock and GiveDirectly. — The high-profile Twitter bet between James Medlock and Balaji Srinivasan has reached its conclusion, and PolicyEngine played a pivotal role in shaping the outcome. On March 16, 2023, Medlock bet that the US would not enter hyperinflation, with Srinivasan taking the bet and wagering that Bitcoin would exceed $1 million…

Evaluating Councilmember Zachary Parker’s second Child Tax Credit proposal of 2023. — We thank the Mother’s Outreach Network for supporting this research. PolicyEngine conducts all research independently of our funders. We recently examined the District Child Tax Credit (DCTC), a proposed bill from DC Councilmember Zachary Parker. Today, we will examine another proposal from Councilmember Parker called the Financial Support for Families…

Enhancing analysis of public policy impacts on needy families. — Today we are expanding our tax-benefit model to include New York Family Assistance, the state’s Temporary Assistance for Needy Families (TANF) program. This update allows for better understanding of the program’s impact on recipients and the wider community. …

Expanding our tax calculator and reform simulator capabilities to the most populous state. — We thank AllHome for supporting this model enhancement. We are thrilled to announce the expansion of PolicyEngine to include the California income tax code! This update enables users to examine, comprehend, and adjust tax policies in California — from rates and brackets to deductions and credits. How California income taxes work

Discover PolicyEngine’s new GPT-4 integration and audience modes. — Just two weeks ago, we unveiled our ChatGPT integration, which allowed users to generate policy analysis by adjusting parameters in PolicyEngine and interacting with OpenAI’s chatbot. …

We’ve expanded our tax calculator and customizable reform simulator to the Sunflower State. — We are excited to announce the addition of the Kansas income tax code to PolicyEngine US! This update allows users to analyze and understand the tax policies in Kansas, including tax rates, deductions, exemptions, and credits available to Kansas residents. How Kansas income taxes work Kansas levies income taxes at different rates for joint and…